中签率不足1%，3万人抢购300套房，香港楼市小户型火爆，成交量创十年来新高

Core Viewpoint - The article highlights the increasing trend of investment in small-sized apartments in Hong Kong, driven by the phenomenon of "lower mortgage payments than rent" and high rental yields, attracting both first-time buyers and investors [1][5][11]. Market Trends - A notable demand for small-sized units is observed, with a specific focus on one-bedroom and two-bedroom apartments. A recent project saw 30,000 participants for 300 available units, resulting in a less than 1% success rate for buyers [1]. - The transaction volume for small-sized apartments (under 4 million HKD and under 40 square meters) is projected to reach 1,945 units in 2025, marking a year-on-year increase of over 70%, the highest growth among all price segments [1]. Investment Preferences - Investors are increasingly favoring small-sized units due to their higher rental yields. For instance, the rental yield for A-class housing (under 40 square meters) was reported at 3.6%, compared to lower yields for larger units [5][6]. - The preference for new properties over second-hand ones is evident, as new developments offer better amenities and developers provide discounts for bulk purchases [9]. Financial Dynamics - The rental yields for small units are now sufficient to cover mortgage costs, with a reported rental yield of 3.6% against a mortgage rate of 3.5%, creating a positive differential [11]. - The rental market has seen continuous growth, with a cumulative increase of 5.21% in 2025, contributing to the attractiveness of purchasing property [12]. Demographic Influences - The demand for rental properties is bolstered by a significant influx of talent and non-local students, with over 230,000 individuals attracted to Hong Kong since late 2022 [14]. - The ratio of students to available accommodation in Hong Kong is approximately 3.4 to 1, leading to increased demand for small rental units [15]. Market Recovery - The overall Hong Kong real estate market is showing signs of recovery, with a 15% increase in transaction volume in 2025 compared to the previous year, and residential prices rising by 4.7% [18]. - Positive market conditions are expected to continue, with forecasts suggesting a potential 10% increase in residential prices in 2026, driven by improved demand and a favorable interest rate environment [19].