Hong Kong Property Market: Over 10 million Hong Kong dollars in second-hand residential property transactions registered in the first quarter, breaking 2,000 cases and hitting a nearly four-year high.

Director of the Hong Kong Property Research Department, Wang Pindi, stated that according to data from the Land Registry, over 10 million Hong Kong dollars in second-hand residential properties were registered in the first quarter, totaling 2,005 transactions, an increase of approximately 20.7% compared to the fourth quarter of last year, setting a new high in the past 15 quarters (or nearly 4 years). When divided into three regions, the performance of second-hand residential properties registered over 10 million Hong Kong dollars in the first quarter showed that Kowloon (including Tseung Kwan O and Sai Kung) had the most transactions with 809 registrations, an increase of about 17.2% compared to the fourth quarter of last year; Hong Kong Island (including Discovery Bay) had 756 registrations, an increase of about 17.6% compared to the fourth quarter of last year; and the New Territories had 440 registrations of second-hand residential properties over 10 million Hong Kong dollars, the most prominent quarterly increase of about 34.1%. As for the ranking of estates with over 10 million Hong Kong dollars in second-hand residential properties registered in the first quarter, Tai Po Hong City topped the list with 54 registrations, more than doubling from the 24 registrations in the fourth quarter of last year; Lynwood followed closely with 53 registrations, a slight decrease of about 3.6% from the 55 registrations in the fourth quarter of last year; and City One ranked third with 47 registrations, an increase of about 80.8% from the 26 registrations in the fourth quarter of last year.