CRIC: Hong Kong January sales registration of buildings fell by 10.5%, still the second highest in nearly 14 months

Yang Mingyi, Senior Joint Director of the Research Department of Midland Realty, pointed out that in January 2026, there were a total of 7,622 property transactions in Hong Kong, with a total value of 571.56 billion Hong Kong dollars. This represents a decrease of 15.3% in volume and 12.1% in value compared to December 2025, which had 8,999 transactions worth 650.46 billion Hong Kong dollars. Although the number of transactions decreased, it was still the second highest in nearly 14 months since December 2024. This reflects the traditional low season during the Christmas holidays in December, where buyers delayed entering the market leading to a decrease in overall trading volume. However, with more than 7,000 transactions for the fourth consecutive month, this is the first time since September 2021. As we entered 2026, the overall property market atmosphere heated up, with robust transaction activity in January, both in terms of volume and value. However, with the Chinese New Year long holiday in February resulting in fewer working days, the registration numbers for February are expected to be affected. In terms of first-hand private residential properties, there were 1,539 transactions totaling 191.6 billion Hong Kong dollars in January, which is a decrease of 11.1% in volume and 7.1% in value compared to December last year. During the Christmas period, developers slowed down their pace of launching new projects, leading to the lowest number of first-hand transactions since February 2025 and the lowest value since August 2025. However, the number of first-hand transactions has exceeded 1,500 transactions for the first time in more than 30 years (367 months) for 11 consecutive months. The sale of new large-scale projects in West Kowloon was hot in January, and it is expected that the number of first-hand transactions in February will approach 2,000. In January, the development with the highest number of registrations was Kwun Tong Junran (public housing), with 526 transactions totaling 21.19 billion Hong Kong dollars. The second was Oi Tung Parkview Apex in Yau Tong, with 156 transactions totaling 9.14 billion Hong Kong dollars. The third was Sierra Sea Phase 2A in West Kowloon, with 90 transactions totaling 5.51 billion Hong Kong dollars. The fourth was Kai Tak Bay Phase 1, with 71 transactions totaling 5.79 billion Hong Kong dollars. The fifth was Park Circle II Phase 1B on Kam Sheung Road in Yuen Long, with 60 transactions totaling 4.48 billion Hong Kong dollars. As for second-hand private residential properties, there were 3,912 transactions totaling 290.3 billion Hong Kong dollars in January, a slight decrease of 0.9% in volume and 4.3% in value compared to December last year. The number of transactions was similar to the previous month, still the second highest in 21 months since April 2024, while the value was the third highest in 21 months since April 2024. During the Christmas period last year, second-hand transactions remained active, with no significant decrease, continuing to be close to four thousand transactions. This year, buyers continue to have strong purchasing power and entered the market early before the Chinese New Year, with expectations for high registration numbers for second-hand properties in February. In terms of large housing estates, in January, Mei Foo Sun Chuen recorded 36 transactions (totaling 2.49 billion Hong Kong dollars), Kadoorie Hill recorded 34 transactions (totaling 1.50 billion Hong Kong dollars), City One Shatin recorded 32 transactions (totaling 3.18 billion Hong Kong dollars), and City One Shatin recorded 31 transactions (totaling 1.47 billion Hong Kong dollars).