Hong Kong Property: 518 second-hand residential registrations above HK$10 million in Hong Kong in September, up 14% month-on-month, outperforming the broader market.

Wang Pin-di, Director of Research at Hong Kong Property, said that according to data compiled by the Research Department of Hong Kong Property from the Land Registry, 3,810 second-hand residential registrations (including second-hand private residential and second-hand public housing) were recorded in September, an increase of about 1.2% from 3,763 in August; among them, 518 registrations were for second-hand residential properties worth more than HK$10 million, an increase of about 13.8% from 455 in August, outperforming the broader market month-on-month. Given the time required from signing the sale and purchase agreement to submitting it to the Land Registry for registration, September registration cases generally mainly reflect the market conditions in August. Looking at the month-on-month performance of second-hand residential registrations above HK$10 million in September by the three major regions, Hong Kong Island (including Discovery Bay) recorded 208 registrations for second-hand residential properties above HK$10 million, an increase of about 21.6% from 171 in August, the highest number among the three regions, with the largest month-on-month increase among the three regions as well; the New Territories recorded 118 registrations, an increase of about 20.4% from 98 in August; Kowloon (including Tseung Kwan O and Sai Kung) recorded 192 registrations, an increase of about 3.2% from 186 in August. As for the ranking of estates by second-hand residential registrations above HK$10 million in September, Hong Kong Island properties took the top two spots, with Taikoo Shing ranking first with 17 registrations above HK$10 million, an increase of more than 3.2 times from 4 in August; South Horizons ranked second with 11 registrations, a surge of 10 times from 1 in August; LOHAS Park ranked third with 10 second-hand residential registrations above HK$10 million, an increase of about 42.9% from 7 in August.