CRIC: The overall number and amount of transactions for luxury houses in Hong Kong reached a four-year high last year.

Yang Mingyi, Senior Joint Director of the Research Department of Midland Realty, pointed out that there were a total of 624 residential transactions for luxury houses in Hong Kong last year (including both primary and secondary transactions, excluding internal transfers), with a total value of HK$28.09 billion, representing a year-on-year increase of 43.8% and 22% respectively. Both the number of transactions and the total value reached a 4-year high; among them, there were 73 transactions worth HK$100 million or more, totaling HK$169.91 billion, an increase of 52.1% and 15.7% respectively compared to the previous year. With the stock market performing well, the Hong Kong government relaxing the residency threshold for the investment immigration program, interest rates peaking, and property prices in Hong Kong reaching a bottom and rebounding, the attractiveness of luxury houses with significant price adjustments has increased, attracting capital inflow and boosting overall transactions of luxury houses, with registration figures rising for the second consecutive year. Last year, there were 72 transactions totaling HK$104.83 billion for primary transactions of luxury houses in Hong Kong (excluding internal transfers), representing a year-on-year increase of 7.5% and a decrease of 22.4%, with the number of transactions hitting a 3-year high; among them, there were 35 transactions worth HK$100 million or more, totaling HK$83.78 billion, a slight increase of 2.9% and a decrease of 28.1% respectively compared to the previous year. This reflects rare supply of new luxury housing projects; coupled with developers being reluctant to sell, the number of primary transactions has remained below 100 for 4 consecutive years. As the number of large transactions for top-tier new projects decreased last year, it affected the total transaction value for primary transactions.