Midland Realty: Year-to-date transaction value of first-hand private residential properties in Hong Kong reaches HK$205 billion

According to data compiled by the Midland Realty Research Center from the Sales of First-hand Residential Properties Electronic Platform and market sources, the transaction value of first-hand private residential properties in Hong Kong has reached approximately HK$205 billion so far this year (as of October 21), comparable to the full-year level of last year, meaning that this year has matched last year's full-year record in less than 10 months. It is worth noting that the transaction value of first-hand private residential properties across Hong Kong has exceeded HK$200 billion for two consecutive years, the first time since 2017 and 2018, reflecting the strong ability of new developments to absorb capital in recent years. Data shows that this year (as of October 21), 4,910 first-hand private residential transactions were recorded at over HK$10 million, about 8.7% higher than the 4,515 transactions in the whole of last year, reflecting the start of upgrade demand and rising demand for luxury homes. By district, among first-hand private residential transactions above HK$10 million this year (as of October 21), Kai Tak performed most prominently, recording 1,172 transactions, accounting for about 23.9% of Hong Kong's total first-hand private residential transactions above HK$10 million, significantly higher than other districts.