Colliers International: Hong Kong property market is expected to continue its spring market in March.

Midland Realty recorded 16 transactions in the top 10 housing estates over the weekend, representing a 128% increase from the previous week and reaching a 4-week high. The number of estates with zero transactions dropped significantly to 1, with only Lai King City failing to record any trading activity. Chen Wing-keung, Vice President and President of the Residential Department of Midland Realty Asia Pacific, stated that after the Lunar New Year holiday, property viewing activities and transaction speeds have fully recovered, with the market resting for only a week before picking up again. This reflects the strong purchasing power in the market, as the favorable conditions from the fourth quarter of last year continue. Buyers are confident about the future market and are hastening their entry, leading to a strong start to the year, with continuous active trading. According to statistics from the branches of Colliers International, there were approximately 16 transactions in the top 10 secondary-market housing estates over the weekend, compared to 8 transactions the previous weekend, exceeding double-digit levels once again. If the top 15 estates are considered, approximately 17 transactions were recorded, representing a 113% increase from the previous week. Colliers International Senior Director Brian But stated that since the announcement of the new Budget, uncertainties in the property market have been eliminated. The relaunch of new projects is expected to stimulate purchasing power. Meanwhile, property viewings in various districts over the weekend remained positive, with trading cooperation improving, painting a prosperous market scenario. Looking ahead to March, despite the recent gloomy international political situation, it has not yet affected the property market. With the upcoming National People's Congress and Chinese People's Political Consultative Conference setting the direction for the economy and different industries in the next five years, it is expected to be a focal point for the market. But believes that as long as no other unforeseen factors arise in the short term, the property market in March is expected to continue its positive trend, accelerating purchasing power and stimulating further trading in both first-hand and second-hand properties. According to Colliers International's statistics on the distribution of transactions in the top 10 housing estates on weekends, there were 4 transactions recorded in 3 estates in Hong Kong Island, including Taikoo Shing, Hong Yi Gardens, and South Horizons, representing an increase of 3 transactions from the previous week; 7 transactions were recorded in 4 estates in Kowloon, including Lai King City, Whampoa Garden, New Town Plaza, and Mei Foo Sun Chuen, representing an increase of approximately 40% from the previous week; as for the 3 estates in the New Territories, Ying Wan Garden, City One Shatin, and Kadoorie Hill, there were 5 transactions recorded, representing a 150% increase from the previous week.