Core Insights - The number of registered second-hand residential properties in Hong Kong for the first nine months of this year reached 32,571, representing an increase of approximately 9.4% compared to 29,759 registrations in the same period last year [1] - The registration of second-hand Home Ownership Scheme (HOS) flats decreased by about 18.3% year-on-year, with 3,676 registrations this year compared to 4,497 last year, marking a three-year low [1][4] Summary by Category Registration Volume - The total registration of second-hand residential properties increased to 32,571, up from 29,759, indicating a growth of 9.4% [1] - The second-hand HOS flats saw a significant decline, with 3,676 registrations, down 18.3% from 4,497 [1][4] Price Segmentation - For HOS flats priced at HKD 4 million or below, there were 2,292 registrations, a decrease of 5.9% from 2,435 last year, suggesting a smaller decline in this segment [4][5] - Registrations for HOS flats priced between HKD 4 million and 5 million dropped by 34.8%, from 1,429 to 931 [4][5] - For flats priced over HKD 5 million, registrations fell by 28.4%, from 633 to 453 [4][5] Geographic Distribution - In terms of geographic distribution, the Island District recorded 413 registrations, down 13.2% from 476 last year [7] - The Kowloon District saw 1,008 registrations, a decrease of 14.9% from 1,185 [7] - The New Territories recorded 2,255 registrations, down 20.5% from 2,836 [7] Future Outlook - The Hong Kong Housing Authority anticipates that the number of registrations will increase in the fourth quarter due to the upcoming release of new HOS flats, which is expected to boost overall registration numbers [7]

Core Viewpoint - The Hong Kong property market is experiencing improved trading activity, particularly in the secondary market for Home Ownership Scheme (HOS) flats, driven by favorable factors such as lower interbank interest rates [1][3]. Group 1: Market Activity - In July, there were 452 registrations of secondary HOS flat transactions, a 9% increase from 414 in June [1]. - The total transaction value for the same period was approximately HKD 1.766 billion, reflecting a 13% increase from HKD 1.569 billion in the previous month [1]. Group 2: Pricing Trends - The average price of secondary HOS flats in July was about HKD 3.907 million, up 3.1% from HKD 3.790 million in June, marking a new high for the year [3]. - Notable transactions included a high-floor unit in Tai Wai's Fu Ka Garden sold for HKD 7.598 million, translating to an average price of HKD 13,033 per square foot [3]. Group 3: Transaction Volume by Price Segment - The highest increase in transaction volume was seen in the segment of flats priced at HKD 6 million or above, with 18 registrations in July, an 80% increase [3]. - The most active price segment remained those priced between HKD 3 million and HKD 4 million, with 197 registrations, a nearly 20% increase from June [3]. Group 4: Regional Performance - In July, Kowloon recorded 114 registrations, a slight decrease of 2% from the previous month, while Hong Kong Island saw a 2% increase to 47 registrations [3]. - The New Territories had the most significant increase, with 291 registrations, up 15% from the previous month [3]. Group 5: Popular Developments - The most popular development in July was Regal Garden in Kowloon Bay, which saw a 1.83 times increase in registrations, totaling 17 transactions [4]. - Other notable developments included Long Poon Court, Yu Chui Court, and Ching Wah Court, each with 10 transactions, with significant increases in their transaction values [4]. Group 6: Future Outlook - The ongoing "HOS 2024" selection period may divert some buyers from the secondary market, potentially leading to a slight decrease in registrations in August, estimated at around 430 [4]. - However, as the new HOS selection concludes, it is expected that demand from first-time buyers will gradually return to the secondary market [4].

Core Viewpoint - The Hong Kong government's recent budget proposal to extend the HKD 100 stamp duty to residential properties valued up to HKD 4 million has alleviated the financial burden on buyers, leading to a significant increase in second-hand housing transactions [1] Group 1: Market Activity - In April, Hong Kong recorded 496 second-hand housing transactions, a 36% increase from 366 in March, marking the highest level in nearly nine months [1][2] - The total transaction value for the same period was approximately HKD 18.7 billion, up 35% from HKD 13.88 billion in March [1][2] - The average price of second-hand housing in April was about HKD 3.771 million, a slight decrease of 0.6% from March's HKD 3.792 million, reaching the lowest level in over 104 months [2] Group 2: Price Segmentation - All six price segments for second-hand housing saw an increase in transaction volume, with the segment under HKD 2 million experiencing the largest growth, recording 23 transactions, a 109% increase [3] - The most active segment was the HKD 3 million to HKD 4 million range, with 246 transactions, up 59% from 155 in March [3] - By region, Kowloon recorded 151 transactions, a 72% increase; New Territories saw 297 transactions, up 29%; while Hong Kong Island had 48 transactions, a slight increase of 2% [3] Group 3: Notable Transactions - The highest recorded transaction in April was for a unit in Ngau Chi Wan, sold for HKD 8 million, with an average price per square foot of HKD 12,618, the highest for second-hand housing that month [2] - The top-performing estate in terms of transaction volume was Regal Garden in Kowloon Bay, with 26 transactions, a 271% increase from the previous month [4] Group 4: Market Outlook - The easing of the US-China trade war and the reduction in Hong Kong's interbank lending rates are expected to boost buyer confidence and overall market activity [6] - However, the transition period for the "White Form" housing scheme and the upcoming sale of new public housing units may create competition for second-hand housing, potentially leading to a decrease in transaction volume in May [6]