Core Viewpoint - The Hong Kong property market has benefited from interest rate cuts and rising rents, leading to increased willingness among "rent-to-buy" users and long-term investors to enter the market. The first ten months of this year saw a significant increase in residential property registrations, reaching a four-year high [1]. Summary by Category Overall Market Performance - In the first ten months of this year (up to October 16), Hong Kong recorded 51,353 residential property registrations, a 10.2% increase from 46,603 registrations during the same period last year, marking the highest number for this timeframe in four years [1][4]. Registration by Price Segment - Residential properties priced at HKD 5 million or below recorded 24,645 registrations, up 16.9% from 21,080 last year, making it the most registered category and showing the most significant growth. This increase is attributed to the adjustment in the stamp duty threshold in February [3][4]. - Properties priced between HKD 5 million and HKD 10 million saw 19,182 registrations, a 6.3% increase from 18,052 last year [4]. - Properties priced over HKD 10 million recorded 7,526 registrations, a slight increase of 0.7% from 7,471 last year [4]. Performance by District - The New Territories recorded the highest number of registrations at 26,419, a 15% increase from 22,966 last year [5]. - The Hong Kong Island district saw a significant increase of 21.6%, with 9,850 registrations compared to 8,100 last year, marking the highest growth among the three districts [5]. - In contrast, the Kowloon district experienced a decline, with 15,084 registrations, down 2.9% from 15,537 last year [5].

Group 1: Market Performance - Hong Kong's private residential property price index reached 285.7 points in April, reflecting a month-on-month increase of 0.35%, ending a four-month decline [1] - The number of transactions for new residential properties in Hong Kong reached 7,439 units in the first half of the year, a 7.3% increase compared to the second half of last year, marking the highest level since the second half of 2021 [1] - The demand for two-bedroom units has been strong, with 3,606 units sold this year, representing a year-on-year increase of 14.4% [1] Group 2: Rental Market - The rental index for private residential properties in Hong Kong increased by 0.31% in April, marking the fifth consecutive month of growth [2] - The average rent per square foot for private residential properties was reported at HKD 38.02 in April, up approximately 0.4% month-on-month, continuing a three-month upward trend [2] - The upcoming traditional rental peak season is expected to further drive rental prices, with an influx of mainland students seeking accommodation [2] Group 3: Government Policies - The Hong Kong government announced the removal of all property market "cooling measures," eliminating additional stamp duties on residential property transactions [2] - The government raised the property value threshold for a HKD 100 stamp duty from HKD 3 million to HKD 4 million, which is expected to benefit about 15% of property transactions, resulting in an annual revenue reduction of approximately HKD 400 million for the government [2]

Group 1 - The demand for housing in Hong Kong remains strong, leading to a further increase in private residential rents, with the average rent per square foot reaching approximately HKD 38.02 in April, a month-on-month increase of about 0.4%, marking a new high since July 2019 [1] - The market anticipates three interest rate cuts in the US this year, which may lead to a further decline in mortgage rates in Hong Kong [1] - The recent drop in interbank rates has resulted in a decrease in mortgage rates, with the latest H mortgage rate at 3.23%, which is approximately 0.27% lower than the capped P mortgage rate of 3.5% [1] Group 2 - The residential market has experienced a "rising rent and falling price" phenomenon, contributing to an increase in rental yield, with the latest rental yield for Class A private residential properties recorded at 3.7%, up from 3.3% year-on-year [2] - The rental yield has increased by 1.4 percentage points compared to the low of 2.3% in 2021, indicating a positive trend in rental returns [2] - In April, rents continued to rise, with notable increases in rents along certain railway lines, such as a 9.8% increase at the Kowloon Station's Parkview and approximately 8.8% and 8.4% increases at the Wu Kai Sha Station's Silver Lake Peak and Wong Tai Sin Station's Sun Ching Mountain, respectively [2]