两笔交易就超过100亿港元，内地资金在港“扫楼”

Core Viewpoint - The Hong Kong real estate market is experiencing a significant turnaround in Q4 2025, driven by major investments from mainland internet giants and a resurgence in transaction volumes, leading to optimistic price forecasts for 2026 [1][4][11] Group 1: Market Activity - Alibaba and JD.com have invested over HKD 100 billion in core commercial properties in Hong Kong, marking a shift in market dynamics previously dominated by foreign and local family businesses [4] - In the first 11 months of 2025, Hong Kong saw 18,800 new residential transactions and 35,800 second-hand transactions, both reaching recent peaks [1] - The overall transaction volume for properties in Hong Kong is expected to reach 78,000 units for the year, a 15% increase compared to 2024, potentially setting a new high since 2021 [7] Group 2: Price Forecasts - Centaline Property predicts a 15% increase in Hong Kong property prices in 2026, while other institutions like JLL and Citigroup also express cautious optimism regarding price increases for various property segments [11] - The price of small to medium-sized residential properties is expected to rise by approximately 5% according to JLL [11] Group 3: Factors Driving Market Recovery - The reduction in stamp duty and the onset of a rate-cutting cycle have lowered entry barriers for homebuyers, stimulating market activity [2][10] - Rental prices have increased for three consecutive years, with a 4.84% rise in the first 11 months of 2025, further encouraging investment in rental properties [2] - The phenomenon of "supply being cheaper than rent" is attracting tenants to consider purchasing properties instead [2][10] Group 4: Investment Trends - High-net-worth individuals and local investors are actively participating in the market, with notable purchases from prominent real estate figures and families [5] - Mainland Chinese buyers have become a significant force in the market, with a record number of transactions in 2025, surpassing previous years [6]