Property Services: In August, Hong Kong recorded 1,090 transactions of newly built residential properties, a 34% increase compared to the previous month, with luxury properties sales exceeding last year's total.

Midland Holding's CEO and Executive Director of Midland Realty, Ma Taiyang, stated that as the consolidation period of the Hong Kong property market gradually comes to an end, market sentiment is improving and residential transactions are recovering. In August, both the transaction volume and value of new properties saw an increase. According to the Midland Realty Research Center, which compiles information from the primary residential property sales data network and market news, the transaction volume for new properties climbed back to over a thousand, registering approximately 1,090 transactions, a month-on-month increase of about 34%, reaching a three-month high; the total value recorded was about HKD 15.82 billion, a month-on-month rise of approximately 40%, reflecting a notable improvement in the buying and selling atmosphere in the new property market. Ma Taiyang pointed out that the transaction volume for new private residential properties rebounded in August, with the performance of super luxury homes standing out even more, which became one of the main factors driving the proportionate increase in transaction value being higher than the number of transactions. As an international financial center, Hong Kong's financial market remains active. By early August of this year, the IPO fundraising amount in Hong Kong had reached USD 41 billion, surpassing the total for the entire previous year. The expansion of high-value financial institutions, such as asset management and hedge funds, has driven a wealth effect and increased demand for property among high-income professionals, supporting the luxury residential market. At the same time, the ongoing geopolitical uncertainties continue to position Hong Kong as an attractive option for both domestic and foreign funds and high-net-worth individuals looking to allocate assets, especially for scarce super luxury homes that are expected to remain favored due to their value preservation capability. Data shows that in August, the transaction volume of new private homes priced over HKD 100 million recorded 15 transactions, significantly rising approximately 87.5% from 8 transactions in July, marking the third highest level in the year. With this momentum, the transaction volume of new properties over HKD 100 million in the first eight months of this year has risen to 107 transactions, not only representing a significant increase of over 1.27 times compared to 47 transactions during the same period last year but also surpassing the total of 101 transactions for the entire previous year. It is believed that this month could further break the record high of 109 transactions set after the sales regulations in 2018. Looking ahead to the next two months, Ma Taiyang expects that as the traditional peak season of "golden September and silver October" approaches, multiple brand new projects will be launched, providing more choices for the market. If developers adopt a sales strategy of "quantity first, then price," it is expected that the total transaction volume for new properties in September and October could exceed 3,000 transactions.