Hong Kong Property: Residential Property Market Transactions Booming This Year with the Hong Kong Rating and Valuation Department's Building Price Index Rising for 10 Consecutive Months to a Latest Reading of 312.8 Points.

Director Wang Pindi of the Hong Kong Real Estate Research Department stated that the private residential property market had a strong start this year, with smooth transactions and continuous increase in prices; Today, the Hong Kong Rating and Valuation Department announced the latest private residential price index for March, at 312.8 points, an increase of about 1.4% from the previous month, marking the 10th consecutive month of increase and reaching a 28-month (i.e. over 2 years) high; The year-to-date price increase has expanded to about 4.4%. The real estate market has been robust this year with active trading. In terms of first-hand transactions, according to data compiled by the Hong Kong Real Estate Research Department from the "First-Hand Residential Property Sales Information Network" and market sources, the transaction volume exceeded 2,000 units in the first 27 days of April, maintaining a level of over 1,000 units for 15 consecutive months, indicating sustained activity in first-hand transactions; In the first four months of this year, the number of first-hand transactions exceeded 8,300 units, accounting for over 40% of the total transactions of about 20,000 units in the previous year; It is estimated that the annual volume of first-hand transactions this year will challenge the new high set after the implementation of the First-Hand Sales Ordinance of 22,000 units. In terms of second-hand transactions, according to data from the frontline branches of the bank, a total of 806 transactions were recorded in the 20 major housing estates in Hong Kong from December 29, 2025 to April 26, 2026, averaging about 47 transactions per week, which is nearly 20% higher compared to the average of about 40 transactions per week last year, reflecting a focus on first-hand transactions this year, while the second-hand market trading has been more active compared to last year. Additionally, the "Hong Kong Property Report 2026" released by the Rating and Valuation Department last week indicated that the number of completed private residential units decreased from a peak of 24,260 units in 2024 to 18,450 units in 2025, and is expected to continue to decrease in the next two years, reaching 15,360 units by 2027, a reduction of over 30% from the peak in 2024. With the expectation of a continued decrease in completed units and the belief that the residential market trading will remain active, it is anticipated to provide positive support to property prices.