Midland Realty: Hong Kong's secondary private residential transactions exceeded 4,000 in March, reaching a new high in over 4 and a half years.

Yang Mingyi, Senior Co-Director of the Research Department of Centaline Property, pointed out that in March 2026, a total of 7,737 property sale contracts (including residential, parking spaces, and commercial properties) were registered, with a total value of 623.11 billion Hong Kong dollars (HKD), a decrease of 2.4% and an increase of 0.3% from 7,924 transactions and 621.46 billion HKD in February. This amount is the highest in nearly 3 months, following the 650.46 billion HKD in December last year. This reflects an early peak in the seasonal property market. Despite the escalation of the Middle East conflict at the end of February and fluctuations in the stock market, it did not deter home buyers and investors from entering the market. The property market continued to be active after the Lunar New Year, with new developments selling well, the secondary market improving, and interest rates falling. It is believed that the number of registrations in April is expected to stabilize at around 8,000 transactions. In terms of the first quarter of 2026, a total of 23,292 property transactions were recorded, amounting to 1,817.06 billion HKD, with a slight decrease of 0.1% and a slight increase of 0.2% compared to the previous quarter. The number of transactions was similar to the fourth quarter of last year, ranking second after the 25,232 transactions in the third quarter of 2021, and the amount was the highest in 7 quarters since the 1,873.13 billion HKD in the second quarter of 2024, indicating a continuous recovery in the overall property market since the second quarter of last year. In March, a total of 6,316 residential property transactions were registered, totaling 551.84 billion HKD, a decrease of 5.3% and 4.2% from 6,669 transactions and 575.98 billion HKD in February. Although residential property transactions decreased, they remained above 6,000 transactions for 2 consecutive months. In terms of the first quarter of 2026, a total of 18,654 residential property transactions were recorded, amounting to 1,620.03 billion HKD, with a quarterly increase of 8.5% and 5.2%, reaching a new high in number of transactions since the third quarter of 2021 and a new high in amount since the second quarter of 2024. As for first-hand private residential properties, 1,413 transactions totaling 182.5 billion HKD were recorded in March, a decrease of 44.7% and 33.2% from 2,557 transactions and 273.4 billion HKD in February. Despite the lack of new major developments during the Lunar New Year period, sales of remaining units were good, leading to over 1,000 transactions for 13 consecutive months. With several new developments selling well after the Lunar New Year, it is expected that first-hand transactions will increase in April. In terms of the first quarter, there were 5,505 first-hand transactions totaling 647.5 billion HKD, a decrease of 1.3% and 5.4% compared to the previous quarter. The development with the highest number of registrations in March was the second phase of the SIERRASEA in Sai Sha, with 233 transactions totaling 15.05 billion HKD. The second was Grand Yoho in Central, with 54 transactions totaling 14.76 billion HKD. The third was Sea Crest in Kennedy Town, with 50 transactions totaling 4.33 billion HKD. The fourth was the first phase of Yat Muk in To Kwa Wan, with 47 transactions totaling 3.07 billion HKD. As for second-hand private residential properties, 4,621 transactions totaling 358.4 billion HKD were recorded in March, an increase of 18.1% and 20.7% from 3,913 transactions and 296.9 billion HKD in February. The second-hand market noticeably warmed up before the Lunar New Year, with transactions surpassing 4,000 units, reaching a new high in 56 months (over 4 and a half years) since the 5,088 transactions in July 2021 and a new high in amount in 36 months (3 years) since 361.0 billion HKD in March 2023. In terms of the first quarter, there were 12,449 second-hand transactions totaling 949.1 billion HKD, an increase of 13.6% and 12.4% compared to the previous quarter, reaching a new high in number of transactions since the third quarter of 2021 and a new high in amount since the second quarter of 2022. In terms of large housing estates, in March, Mei Foo Estate recorded 36 transactions (totaling 2.65 billion HKD), Kadoorie Hill recorded 33 transactions (totaling 1.46 billion HKD), City One Shatin recorded 30 transactions (totaling 1.59 billion HKD), and Cityplaza recorded 29 transactions (totaling 2.83 billion HKD).