Hong Kong Land: Residential transactions are active, expected to reach 7,000 residential registrations in March

Wang Pindi, Director of the Research Department at Hong Kong Property, stated that according to the latest data from the Land Registry, there have been 4,460 residential property registrations this month (as of the 19th), a slight decrease of about 1% compared to 4,505 registrations during the same period last month. If the current registration pace continues, it is expected that March could challenge 7,000 registrations for the entire month, comparable to the 22-month high in February, reflecting a robust residential transaction market. Given that it takes time from signing a sales contract to submitting it for registration at the Land Registry, the registration cases in March generally reflect the market conditions of February.

When dividing the residential property registration volume this month by district, the New Territories recorded 1,574 registrations, an increase of about 16% compared to 1,357 registrations during the same period last month; Hong Kong Island recorded 864 registrations, an increase of about 6.4% compared to 812 registrations last month; in contrast, Kowloon recorded 2,022 residential property registrations, a decrease of about 13.4% compared to 2,336 registrations last month.

When dividing the residential property registration volume this month by value, properties priced at HKD 5 million or below recorded 1,875 registrations, an increase of about 11.8% compared to 1,677 registrations last month; properties priced over HKD 10 million recorded 795 registrations, an increase of about 8.3% compared to 734 registrations last month; in contrast, properties priced between HKD 5 million and HKD 10 million recorded 1,790 registrations, a decrease of about 14.5% compared to 2,094 registrations last month