In the first seven months of this year, Hong Kong's primary residential property transactions reached 12,300, setting a new seven-year high, with leftover inventory accounting for 60% of the sales volume.

According to the Research Department of Hong Kong Property, based on data from the "First-hand Residential Property Sales Information Network" and market news, a total of 12,347 first-hand residential sales transactions were recorded in Hong Kong from January to July this year, representing a year-on-year increase of 9.3%, the highest in nearly seven years for the same period. The total sales amount exceeded HKD 155.67 billion, more than doubling compared to the same period last year and hitting a record high since the implementation of the First-hand Sales Ordinance. In the first seven months of this year, the growth rate of first-hand sales amounts was significant, primarily driven by the sales of unsold inventory. During this period, the number of transactions for new developments and unsold inventory was nearly equal, recording 6,200 and 6,147 transactions respectively. However, in terms of contribution amount, the unsold inventory accounted for approximately HKD 97.03 billion, making up 62.3% of the total transaction value, which was about 65.5% more than that of new developments. Analysis indicates that the leading transaction amount of unsold inventory is closely related to its transaction structure. In the first seven months of this year, among the unsold inventory, a total of 2,723 transactions with prices over HKD 10 million were recorded, constituting 44.3% of the total unsold inventory transactions; meanwhile, new developments in the same price segment only recorded 1,018 transactions, representing a mere 16.4%. Mid to high-end properties are evidently more popular in the unsold inventory market. In terms of regional distribution, Kai Tak has become the most active segment for transactions of unsold inventory priced at HKD 10 million and above, with a total of 851 transactions, accounting for approximately 31.3% of similar transactions. Sha Tin and Ho Man Tin followed closely with 319 and 267 transactions respectively. Hong Kong Island's Aberdeen and Ap Lei Chau (including Wong Chuk Hang) and Pak Shek Kok also made it into the top five. These five regions collectively contributed 1,816 transactions of unsold inventory priced at HKD 10 million or above, with a concentration rate of 66.7%.