Hong Kong Property: In February, the transaction volume of second-hand residential properties in Hong Kong exceeded 10 million Hong Kong dollars, an increase of approximately 11.6% compared to the previous month, reaching a record high in nearly 2 years.

Director of Research Department of Property Development of Hong Kong, Wang Pindi, stated that according to the data from the Land Registry, there were 4,483 registered transactions of second-hand residential properties (including second-hand private homes and second-hand public housing) in February, a decrease of about 2.5% compared to 4,597 transactions in January. Among them, there were 655 registered transactions of second-hand residential properties priced over 10 million Hong Kong dollars in February, an increase of about 11.6% compared to 587 transactions in January, outperforming the overall market and reaching a new high in nearly 22 months. The ratio of registered transactions of second-hand residential properties priced over 10 million Hong Kong dollars to the total registered transactions also increased from approximately 12.8% in January to around 14.6% in February, a rise of about 1.8 percentage points. This represents a consecutive increase for 2 months, reaching a new high in over 32 months or more than 2 and a half years. As it usually takes time from signing the sale and purchase agreement to registering with the Land Registry, the registered cases in February mainly reflect the market conditions in January. In terms of the month-on-month performance of registered transactions of second-hand residential properties priced over 10 million Hong Kong dollars divided into three districts in February, the Hong Kong Island (including Discovery Bay) recorded the highest number with 265 transactions, an increase of about 25.6% from 211 transactions in January. The New Territories recorded 153 transactions, the most significant increase among the three districts at approximately 31.9% from 116 transactions in January. On the other hand, Kowloon (including Tseung Kwan O and Sai Kung) recorded 237 registered transactions of second-hand residential properties priced over 10 million Hong Kong dollars, a decrease of about 8.8% from 260 transactions in January. Regarding the ranking of registered transactions of second-hand residential properties priced over 10 million Hong Kong dollars by housing estates in February, City One topped the list with 21 transactions, remaining the same month-on-month. Tai Po City ranked second with 20 transactions, an increase of about 42.9% from 14 transactions in January. Although there was a decline of approximately 8.8% in Kowloon district, The Mediterranean in the area saw an increase in transactions, ranking third with 17 registered transactions of second-hand residential properties priced over 10 million Hong Kong dollars, up about 13.3% from 15 transactions in January.