Hong Kong Property: First 10 months Hong Kong first-hand residential transaction value exceeds HK$200 billion, hitting a 5-year high

Wang Pindi, Director of the Research Department at Hong Kong Property, said that according to data compiled by the Research Department of Hong Kong Property from the Sales of First-hand Residential Properties Electronic Platform and market information, the first-hand transaction value in the first 10 months of this year recorded about HK$209.25 billion (HKD, same below), already exceeding last year's full-year figure of about HK$205.01 billion and hitting a 5-year high. Breaking down the first-hand transaction value in the first 10 months of this year, brand-new projects launched in the first 10 months of this year involved about HK$89.13 billion, accounting for about 42.6%; as for unsold units launched in 2025 or earlier, they recorded about HK$120.12 billion, accounting for about 57.4%, reflecting that unsold units have become the main driving force for absorbing capital in the first-hand market. By price range, among the about HK$209.25 billion in first-hand transaction value in the first 10 months of this year, properties priced above HK$10 million took a dominant position, recording about HK$130.49 billion, accounting for about 62.4% of all first-hand transaction value. It is worth noting that among first-hand transactions above HK$10 million, unsold units recorded about HK$93.57 billion, equivalent to about 71.7% of the transaction value of this category of first-hand transactions, showing that the capital-absorbing power of first-hand properties above HK$10 million was more prominent in unsold units. Conversely, in first-hand transactions at HK$10 million or below, brand-new projects involved more capital; first-hand transaction value above HK$6 million to HK$10 million recorded about HK$58.38 billion, of which brand-new projects accounted for about HK$37.9 billion, equivalent to about 64.9% of the transaction value of this category of first-hand transactions, while first-hand transaction value at HK$6 million or below recorded about HK$20.38 billion, of which brand-new projects recorded about HK$14.3 billion, accounting for about 70.2%. It is worth noting that brand-new projects dominated the small- and medium-priced first-hand market at HK$10 million or below, forming a sharp contrast with the pattern of unsold units being concentrated in the medium- to high-priced first-hand market, showing that the two have their own appeal in different price ranges. As for the top 5 districts by transaction value of unsold units in the first 10 months of this year, Kai Tak ranked first with about HK$29.41 billion, surpassing second-placed Mid-Levels West at about HK$11.81 billion by nearly 1.5 times. Ho Man Tin recorded about HK$9.21 billion to rank third, Sha Tin recorded about HK$8.56 billion to rank fourth, and Aberdeen and Ap Lei Chau (including Wong Chuk Hang) recorded about HK$8.29 billion to rank fifth.