Mei Wai: Affected by the adjustment of Hong Kong stocks, trading in the Hong Kong property market slowed down in June.

Analyst Cen Songqian of Midland Realty pointed out that according to the data from the Hong Kong Land Registry compiled by Midland Realty Research Center, the overall property transactions in Hong Kong for the first 25 days of June (including first-hand private residential, second-hand residential, first-hand public housing, commercial properties, pure parking spaces, and others) totaled 7,973. If the current registration progress is extrapolated, it is believed that the total registration for the month of June is expected to approach the level of 9,000 transactions. However, the registration process from signing the sales contract to submission to the Land Registry in Hong Kong takes time, so the registration data is lagging behind and has not yet reflected the impact of the downturn in Hong Kong stocks on the property market in June. In June, the Hong Kong property market was affected by the downturn in Hong Kong stocks, leading to a slowdown in residential transactions. In terms of first-hand properties, based on the data from the Hong Kong first-hand residential property sales information website and market news, the transaction volume for the first 25 days of June exceeded 760, with an estimated total for the month falling below the level of a thousand transactions, ending the record of surpassing a thousand transactions for 16 consecutive months. It is worth noting that from March to May, the transaction volume for first-hand properties remained at a high level of over 2,000 transactions per month. After several new developments were absorbed by the market, the transactions declined, which is considered a normal phenomenon, as purchasing power needs to be accumulated and released again. In terms of second-hand properties, based on the data from Midland Bank, a total of 153 transactions were recorded in the past three weeks (June 1st to 21st) in 35 large estates across Hong Kong, a decrease of about 37% compared to the 244 transactions in the previous three weeks (May 4th to May 24th). Based on this calculation, the transaction volume for second-hand residential properties in Hong Kong is expected to decrease in June. Cen Songqian continued to state that the decrease in transactions for both first-hand private residences and second-hand residential properties in June is expected to drag down the overall property transaction activity, and the related impact will gradually manifest in the registration data for overall property transactions in July.