Hong Kong Property: The number of residential registrations in Hong Kong in May stabilized at 7,500, reaching a second-highest level in over 2 years.

Director of the Hong Kong Property Research Department, Wang Pindi, stated that according to data from the Hong Kong Property Research Department, a total of 7,526 residential properties (including first-hand private properties, second-hand private properties, and second-hand public housing) were registered in May, a slight decrease of approximately 2.6% compared to the 7,729 registered in April. However, it has been stable at over 7,000 registrations for two consecutive months, reaching the second highest level in over two years, reflecting that the registration volume of residential properties in May remains at a relatively high level. The total registration amount reached approximately 66.726 billion Hong Kong dollars, an increase of about 2.9% compared to the approximately 64.867 billion in April, setting a new high in over two years. As the time from signing the sales contract to submitting it for registration at the Land Registry takes time, the registrations in May generally reflect the market conditions in April. The performance of the registration amount of residential properties in May was better than the registration volume, mainly due to the outstanding performance of residential properties worth over 10 million Hong Kong dollars. Among the registrations, there were 1,607 registrations of residential properties worth over 10 million Hong Kong dollars, an increase of about 15.9% compared to the 1,386 in April. In terms of residential property registrations divided by amount in May, 3,318 registrations were for properties worth over 5 million to 10 million Hong Kong dollars, a decrease of about 2.6% compared to the 3,408 in April; and 2,601 registrations were for properties worth 500 million dollars or less, a decrease of about 11.4% compared to the 2,935 in April. Regarding the rankings of residential property registrations by housing estate, the top spot was taken by The First in Hung Hom with 370 registrations, followed by The Pavilia Bay in Tai Wai with 310 registrations, and The Bayside in Kai Tak with 247 registrations in third place.