Mainland Chinese buyers drive 93% jump in Hong Kong property transactions
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Mainland Chinese buyers drove a 93% year-on-year increase in Hong Kong property transactions in Q1, totaling HKD42.7 billion (US$5.5 billion). The number of deals rose 53% to 3,882 units, with a notable demand for higher-value properties. New-home sales reached HKD70.8 billion, up 21% quarter-on-quarter. Analysts attribute this surge to a stronger yuan, recovering home prices, and an influx of mainland professionals relocating to Hong Kong. Demand for luxury properties remains strong, with mainland buyers accounting for 50%-60% of transactions over HKD100 million. Home prices are expected to rise by 7-10% this year, despite geopolitical risks.
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