Midland: Hong Kong property prices rose by about 6.8% in the Year of the Snake, with all three districts trending upward

Centaline Property analyst Chan Sung-chin pointed out that as the Year of the Snake comes to an end, looking back at the property market during this year, property prices have rebounded from the bottom, with the "Centaline Property Price Index" rising by about 6.8%. When divided into three regions, property prices in all three areas have risen during the Year of the Snake, with Kowloon increasing by about 8.7%, the highest increase among the three regions; the New Territories and Hong Kong Island have risen by about 5.9% and about 4.7%, respectively. While property prices have risen, the transaction volume of residential properties has significantly increased.

According to data from the Centaline Property Research Center, based on information from the Land Registry, the property market for the upcoming Year of the Snake in 2025 (as of February 12) has recorded a total of 72,599 registrations for new private residential units and second-hand residential properties, representing an annual increase of about 28.1% compared to the previous Year of the Dragon's 56,666 registrations, marking three consecutive years of growth and setting a new high for four lunar years; compared to the previous Year of the Snake in 2013, which had 48,422 registrations, this year's figure is about 50% higher. The property market has fully withdrawn from the cooling measures, coupled with the U.S. restarting interest rate cuts, leading to a phenomenon of "supply exceeding rent" in the market. Additionally, the reduction of stamp duty on lower-priced properties has led to a rebound in property prices in Hong Kong, attracting both self-use buyers and investors into the market, resulting in a significant improvement in transaction performance; however, the number of registrations is still below the 78,691 registrations in the Year of the Snake in 2001.

When dividing the 2025 Year of the Snake (as of the 25th day of the lunar year) by the registration volume of new private residential units and second-hand residential properties, both have increased year-on-year. Among them, the registration volume of new private residential units recorded about 22,667, a significant increase of about 37.5% compared to the previous Year of the Dragon, setting a new high for the 21 lunar years since the Year of the Monkey in 2004; as for the registration volume of second-hand residential properties, it recorded about 49,932, also increasing by about 24.3% year-on-year. The strong increase in registration numbers is mainly attributed to the improvement in the property market in the Year of the Snake in 2025, along with the leap year, which has more days and correspondingly increases the number of registrations.

If we look solely at second-hand residential properties, all ten estates with the highest registration volumes in the Year of the Snake in 2025 have seen an increase year-on-year. Among them, the estate with the highest increase in registration volume is Whampoa Garden, which has surged by about 43.2% compared to the Year of the Dragon, while Ming City has also risen sharply by about 38.9%; Sun Hung Kai's registration volume, which ranks first with 743 registrations, has increased by about 28.5% in the Year of the Snake; Shatin First City has increased by about 23.7%; and properties such as Ocean Park, Discovery Bay, Taikoo Shing, Carpark Villa, and Laguna City have all risen by over 10%; Mei Foo Sun Chuen has also increased by about 9.4%