Midland Realty: Hong Kong's top ten residential estates saw a total of 19 transactions over the weekend, with a sharp increase of 58.3% compared to the previous week, reaching a new high in nearly 16 weeks.

Centaline Property recorded 19 transactions in the top 10 estates over the weekend, a sharp increase of 58.3% compared to the previous week, setting a new high in nearly 16 weeks, with the exception of Lai King City which did not record any transactions. There were a total of 20 transactions over the three-day Buddha's birthday holiday. Yan Kit, Vice Chairman of Centaline Property Asia Pacific and President of the Residential Department, stated that the long weekend holiday attracted buyers to visit properties, comparing different options. With no major new developments being launched over the weekend, buyers turned to the secondary market, where they saw the positive atmosphere in the property market in recent months and made quick decisions to enter the market, leading to increased activity in the secondary market. According to statistics from Midland Realty, over the past weekend from May 23rd to 24th, approximately 19 transactions were recorded in the top 10 second-hand estate indicators, a significant increase of about 58.3% compared to the previous week, reaching a new high in 16 weeks. Including the 3-day Buddha's birthday weekend, a total of 23 transactions were recorded. For the top 15 estates, approximately 22 transactions were recorded over the weekend, a significant increase of about 69.2%. Senior Director of Midland Realty, So Ming, stated that developers have been actively launching new projects, leading to a vibrant market. The strong desire of buyers to enter the market, including large-scale and long-term investors, has led to a continuous increase in purchasing power, attracting many buyers to return to the secondary market in various districts to search for bargains, driving activity in the second-hand estate indicators over the weekend. At the same time, with the gradual dissipation of the instability brought by the geopolitical situation in the Middle East, funds have further flowed back into the investment market, benefiting the Hong Kong property market. It is expected that the overall demand for both primary and secondary properties will continue to be strong, stimulating a steady increase in transactions and helping to maintain the upward trend in property prices. According to statistics on the transaction volume of the top 10 estate indicators by Midland Realty, 4 transactions were recorded in 3 estate indicators in Hong Kong Island, including Cityplaza, Hong Yip Garden, and South Horizons Peninsula over the weekend, an increase of 1 transaction or 33.3% compared to the previous week. In Kowloon, 9 transactions were recorded in 4 estate indicators including Lai King City, Whampoa Garden, Sceneway Garden, and Mei Foo Sun Chuen, an increase of 2 transactions or 28.6% compared to the previous week. In the New Territories, 6 transactions were recorded in 3 estate indicators including Yingwan Garden, City One Shatin, and Regalia Bay, an increase of 4 transactions or 200% compared to the previous week.