Midland Realty: Number of primary residential properties registered in Hong Kong in April reached a 24-month high, while the amount reached a 10-month high.

Yang Mingyi, Senior Co-Director of the Research Department of Midland Realty, pointed out that in April of this year, there were a total of 8,692 building sale and purchase agreements recorded, with a total value of 72.895 billion Hong Kong dollars, representing a month-on-month increase of 12.3% and 17%. The number of registered transactions reached a four-month high, while the total amount reached a 24-month high. The property market atmosphere remained strong in April, and it is anticipated that the number of transactions in May will stabilize at over 8,000. In terms of residential property transactions, there were 7,368 transactions recorded totaling 63.673 billion Hong Kong dollars, representing a month-on-month increase of 16.7% and 15.4% in terms of both number of transactions and total value, reaching a 24-month high. For first-hand private residential properties, there were 2,577 transactions recorded totaling 28.79 billion Hong Kong dollars, representing a significant month-on-month increase of 82.2% and 57.8% in terms of number of transactions and total value, respectively, reaching a 24-month high in terms of number of transactions and a 10-month high in terms of total value. After the Lunar New Year, developers actively launched new projects, stimulating demand for first-hand sales, with the number of registered transactions exceeding 1,000 for 14 consecutive months. The development with the highest number of registered transactions in the month was the Sea Crest Bay I in Phase 13B of LOHAS Park, recording 520 transactions totaling 4.654 billion Hong Kong dollars. The second was Cloud View in Sheung Shui, recording 265 transactions totaling 1.121 billion Hong Kong dollars. The third was The Richmond in Hung Hom, recording 198 transactions totaling 1.636 billion Hong Kong dollars. The fourth was Uptown in Tsim Sha Tsui, recording 161 transactions totaling 1.119 billion Hong Kong dollars. For second-hand private residential properties, there were 4,510 transactions recorded totaling 34.43 billion Hong Kong dollars in April, representing a slight month-on-month decrease of 2.4% and 4%, mainly due to the impact of fewer working days, but still exceeding 4,000 transactions for the second consecutive month. The average daily number of second-hand transactions recorded in April was 237, a 12.9% increase from the average of 210 transactions per day in March, indicating a rise in property prices, boosting buyer confidence in entering the market, and keeping the second-hand market active. In large housing estates, in April, there were 51 transactions recorded at Kadoorie Hill, totaling 2.46 billion Hong Kong dollars; 32 transactions recorded at City One, totaling 3.13 billion Hong Kong dollars; 27 transactions recorded at Royal Ascot, totaling 1.33 billion Hong Kong dollars; and 26 transactions recorded at Mei Foo Sun Chuen, totaling 1.95 billion Hong Kong dollars.