Core Viewpoint - The Hong Kong property market is experiencing a "small spring" due to a series of stimulus policies, with renewed enthusiasm from mainland buyers for purchasing properties in Hong Kong [1] Group 1: Market Activity - In March, the Hong Kong private residential market recorded 1,097 transactions involving buyers with names in pinyin, representing a nearly 80% month-on-month increase [2] - The first quarter of this year saw a total of 2,461 transactions from pinyin buyers, down nearly 30% compared to the previous quarter's 3,562 transactions [2] - Over 30% of recent buyers in Kowloon City and North Point were from mainland China, primarily purchasing low-priced properties benefiting from new policies [2] Group 2: Policy Impact - The Hong Kong government raised the stamp duty exemption limit for properties valued below HKD 400,000 from HKD 300,000, expected to benefit about 15% of property transactions [2] - The first quarter of 2025 saw 901 transactions for properties below HKD 400,000, a 137.7% increase quarter-on-quarter, marking the highest quarterly record since the implementation of the new sales regulations in 2013 [3] - In March, transactions for properties below HKD 400,000 reached 442, accounting for nearly 50% of the total for the quarter [3] Group 3: Market Trends - The luxury property market in Hong Kong is witnessing increased activity, with reports of high-profile buyers taking advantage of price corrections from peak levels [5][6] - The overall property market is thriving due to low prices, reduced transaction taxes, and high rental yields [7] - The influx of mainland clients is linked to Hong Kong's talent introduction programs, which are expected to continue driving demand in the long term [7]