Hong Kong Property: It is expected that in the first half of the year, the number of transactions for first-hand residential properties in Hong Kong will exceed 11,500, while the number of transactions for second-hand residential properties will be around 30,000.

Director Wang Pindi of the Hong Kong Property Research Department stated that the residential property market in Hong Kong was hot in the first half of the year, with particularly strong performance in the primary market. As of now, there have been approximately 11,368 transactions in the primary market, and it is expected that the final number for the year will exceed 11,500, setting a new record since the implementation of the Primary Sales Ordinance. In the secondary market, it is predicted that there will be around 30,000 transactions in the first half of the year, an increase of nearly 20% compared to the second half of last year, reaching a 5-year high. Wang Pindi also acknowledged that property prices continue to rise, the bargaining space for secondary transactions is shrinking, and the adjustment in the stock market has affected the property market sentiment, causing a slowdown in secondary transactions recently. According to data from the branches of the Hong Kong Property Agency, the number of secondary transactions in the top 20 housing estates has declined for three consecutive weeks in June, with 38 transactions, 29 transactions, and 24 transactions recorded respectively. Looking ahead to the second half of the year, Wang Pindi indicated that with the support of strong demand, relief in supply, rental price peaks, influx of talent, and increase in profit margins, both primary and secondary market transactions are expected to perform well. It is projected that there will be around 11,500 transactions in the primary market in the second half of the year, similar to the first half. In terms of secondary transactions, a common trend in the second half of the year is a slowdown compared to the first half. In the past 5 years (2021-2025), there have been 4 years (2021-2024) where the second half of the year had lower transaction volumes than the first half. Due to the strong performance of secondary transactions in the first half of this year, a slight slowdown in the second half is considered normal, with an estimated 27,000 transactions expected in the second half, a decrease of 10% from the first half.