Hong Kong Property: Hong Kong Property Prices are Rising, with the Profit Rate for Second-Hand Private Residences in the First Quarter Reaching 67%, a 7-Season High.

Director Wang Pindi of the Hong Kong Property Research Department stated that property prices rebounded in the second half of last year, and the resale profit situation also followed suit. According to data from the Hong Kong Property Research Department's comprehensive analysis of Land Registry data, based on known second-hand residential purchases and after deducting internal transfers and special cases, the first quarter's book profit rate was approximately 66.9%, an increase of about 2 percentage points from the fourth quarter of last year, reaching a 7-season high. When dividing known second-hand residential purchases by holding period, among cases with a holding period of 5 years or less, approximately 53.1% had a book profit, an increase of about 19.7 percentage points from the fourth quarter of last year; among cases with a holding period of over 5 years to 10 years, approximately 22% had a book profit, an increase of about 4.9 percentage points from the fourth quarter of last year; among cases with a holding period of over 10 years to 20 years, approximately 89.7% had a book profit, an increase of about 1.3 percentage points from the fourth quarter of last year; among cases with a holding period of over 20 years, approximately 99.9% had a book profit, a slight increase of about 0.3 percentage points from the fourth quarter of last year. It is worth noting that with the rise in property prices, the profit situation has improved for all holding period categories. As for the first quarter's known second-hand residential purchases, the top ten housing estates had 496 cases with a book profit, with a book profit rate of approximately 81%, which is about 14.1 percentage points higher than the overall market book profit rate. Among the properties with a book profit, Mei Foo Sun Chuen had the most cases with 73 cases and a book profit rate of approximately 82%; followed by City One Shatin with 70 cases and a book profit rate of approximately 82.4%; and Royalton ranked third with 60 cases and a book profit rate of approximately 83.3%, also being the housing estate with the highest profit rate among the top ten housing estates. The second highest profit rate among the top ten housing estates was South Horizons with 39 cases and a book profit rate of approximately 83%; and New Town Plaza ranked third with a book profit rate of approximately 82.9% with 34 registered cases of book profit.