尽管2025年上半年二手市场交易量回升至约2万宗，但二手住宅总成交量仍比2018至2024年的平均水平 低22%。成交量的轻微改善不足以支撑价格大幅反弹，以往的楼价反弹均建基于成交量上升逾五成或以 上。 截至3月底，一手市场的供应量为约93,000个单位，且货尾单位仍持续增加。预计到今年底，市场需要 56.7个月来消化全部库存，高于 2015至2021 年间 51.3个月的平均值，为此发展商必须持续减价，令楼 价回调的时间进一步拖长。预料楼价将要到2026年后期，当库存回落至健康水平，才有望持续复苏。 不过，宏观经济指标显示楼价跌幅或会放缓。受惠于定期存款规模较2021年水平倍增，在租金回报率与 存款利率利差持续扩阔的带动下，资金或会转投地产市场。此外，人才签证计划带动的人口增长( 首季 共发出2.7万个签证 )率先推动了租赁需求，其后或进一步刺激置业需求。 智通财经APP获悉，仲量联行发表中期市场回顾及预测指，尽管过去六个月面对重大挑战，香港的写字 楼租赁及住宅市场仍略见回稳。展望未来，普遍商用的价格及租金在2025年下半年将进一步下调，但 HIBOR偏低将刺激住宅销售，而住宅物业租金受非本地专才及学生入境 ...

Group 1: Office Leasing Market - The overall Grade A office leasing market recorded a positive net absorption of 39,700 square feet in April after a negative absorption in March, with a stable vacancy rate of 13.7% [1] - The demand for office leasing is primarily driven by relocations for office upgrades, with The Payment Cards Group Limited leasing 12,100 square feet in Tsim Sha Tsui [1] - Certain industries, particularly finance, insurance, and education, are actively seeking office space, indicating a rising demand in specific sectors [1] Group 2: Rental Trends - Despite the stable vacancy rate, overall rental prices continued to decline, with a slight monthly decrease of 0.5% in April, marking the 36th consecutive month of rental decline since May 2022 [2] - Central and East Hong Kong recorded minor rental declines of 0.4% and 0.6% respectively, while other major districts also experienced similar decreases [2] Group 3: Residential Market - The overall residential transaction volume increased by 6.1% month-on-month in April, with the secondary market transactions rising to 4,080, indicating a recovery in demand [2] - The primary market transactions decreased to 1,614, but the performance remained strong due to the successful launch of several large projects [2] - A decrease in the one-month HIBOR by 3.36 percentage points to 0.59% as of May 26 is expected to alleviate pressure on mortgage borrowers, potentially boosting the residential market [2]