5200 25 Mainland buyers purchased over HK$20 billion worth of property in Hong Kong in May, reaching a 25-month high.

According to analysis by the analyst of Colliers International, Samson Lam, based on data from the Land Registry compiled by the research center of Colliers International, the number of mainland Chinese buyers in the Hong Kong primary and secondary residential market in May, based on the English spelling of their names, totaled 1,863 transactions, a decrease of about 2.9% compared to the previous month, but still the second highest in 25 months. The total amount involved in these transactions was approximately HK$203.9 billion, representing an increase of about 6.8% compared to the previous month, surpassing HK$200 billion for the first time since April 2024 and reaching a new high in 25 months. If we look at the total number of registrations by mainland Chinese buyers in the first five months of this year, there were 7,666 transactions with a total amount of approximately HK$82.1 billion, representing increases of about 63.7% and 96% respectively compared to the same period last year, indicating that mainland Chinese buyers are actively investing in the Hong Kong property market. Samson Lam added that many of these mainland Chinese buyers, identified by the English spelling of their names, are believed to have become "new Hong Kong residents". In addition, with the Hong Kong government actively attracting talent in recent years, many mainland professionals are working in Hong Kong. Coupled with rising rents, the overall removal of the buyer's stamp duty, and other factors, their desire to enter the market has increased, leading to an increase in the number of registrations by mainland Chinese buyers this year. Samson Lam further noted that mainland Chinese buyers prefer new developments, even in the secondary market, they tend to purchase properties in new estates or even in new development areas. Looking at the number of registrations for the "top ten new communities" (selecting over 70 new estates and dividing them into "top ten new communities" by region, including Wong Chuk Hang, Hong Kong, Tseung Kwan O South, Kai Tak, South Horizons, Pak Shek Kok, Yuen Long South, Yuen Long Station, Tsuen Wan West, and Tai Wai) in the first five months of this year, mainland Chinese buyers recorded a total of 459 registrations, an increase of about 97% compared to the same period last year when there were 233 registrations. This increase not only far exceeded the approximately 44% increase in the secondary market during the same period, but also surpassed the approximately 90% increase in the primary market during the same period. Apart from the primary market, the secondary market in the "top ten new communities" is also highly favored by mainland Chinese buyers. Breaking it down by community, in the first five months of this year, South Horizons had the highest number of registrations by mainland Chinese buyers, with 94 transactions, an increase of about 168.6% compared to the same period last year. This is mainly due to the fact that South Horizons is located along the railway line and is adjacent to the core area of West Kowloon, making it one of the preferred areas for mainland Chinese buyers to enter the market. Kai Tak followed with 88 registrations, also more than doubling compared to the same period last year.