US dollar: Hong Kong's first quarter new properties attracted more than HK$70 billion in sales, with 48 transactions of super luxury homes setting a new record for the quarter.

Midland Holding (01200) CEO (Residential) Matheus Yang pointed out that the Hong Kong property market was hot in the first quarter of this year, with outstanding performance in the primary market, both in terms of transaction volume and transaction amount recorded significant increases. According to data from the Midland Property Research Center, which includes information from the First-hand Residential Property Sales Network and market news, the transaction volume in the first quarter of this year reached 6,284 units, a strong increase of about 29.1% from the previous quarter, reaching a new high in 9 and a half years since the third quarter of 2016; the performance of new developments in attracting funds was also strong, with a transaction amount in the first quarter of this year reaching HK$70.8 billion, a quarterly increase of about 21.2%, breaking the high quarterly record of about HK$68 billion in the first quarter of 2017, and the first time since the implementation of the first-hand sales regulations in 2013 to exceed HK$70 billion. Matheus Yang continued that luxury properties priced at over one billion Hong Kong dollars have become a focus for the wealthy, with continued strong performance in transactions in the first quarter. The number of transactions for luxury properties priced at over one billion Hong Kong dollars reached a record high of 48 units in the first quarter of this year, following a high of 44 units in the fourth quarter of last year. In just one quarter, this already accounted for approximately 47.5% of the total transactions for the entire previous year. With the current geopolitical risks escalating, some funds are gradually reducing their dependence on a single market, seeking intermediary platforms with institutional stability, mature financial systems, and close integration with international capital markets. Hong Kong, as an important gateway between the mainland and global markets under the "one country, two systems" system, has unique advantages and has become an ideal destination for "risk avoidance" and "risk diversification." Matheus Yang also mentioned that the registration data from the Hong Kong Land Registry also showed active trading in the overall property market (including residential and non-residential properties). According to data compiled by the Midland Property Research Center from the Hong Kong Land Registry, a total of 23,271 properties (including first-hand private buildings, second-hand residential properties, first-hand public housing, commercial properties, parking spaces, and others) were registered in the first quarter of this year, a slight decrease of 0.2% from the previous quarter's 23,310 properties, with a similar performance on a quarterly basis, but a significant increase of about 46.3% compared to the first quarter of last year, which was 15,906 properties. When compared to the first quarter of each year, this is the highest in thirteen years since 2013. However, it is important to note that the monthly registration cases mainly reflect the market conditions from the previous month, as it takes time from signing the sales contract to registering with the Hong Kong Land Registry. The total registered volume of the overall property market surged year-on-year in the first quarter, with the residential market being the main driver. Data shows that, excluding first-hand public housing, the total number of registered first-hand private residential and second-hand residential properties in the first quarter of this year reached 19,937 units, a sharp increase of about 54.3% from 12,922 units in the first quarter of last year; for non-residential properties, the total number of registered industrial buildings, commercial buildings, and shops in the first quarter of this year reached 1,154 units, an increase of about 8% from the 1,069 units in the first quarter of last year. Both the residential and commercial property markets showed positive year-on-year performance.