12月整体物业注册量创20个月新高，其中二手住宅成为动力之一。据资料显示，12月二手住宅(包括私 人住宅及公营房屋)注册量共录4922宗，环比上升约18.2%，与整体物业同创20个月新高。鉴于签署买卖 合约至递交到土地注册处注册登记需时，注册个案属滞后数据。 美联物业分析师岑颂谦指出，以2025年全年计，整体物业注册量合共录80702宗，同比上升约18.7%， 自2021年后首次突破8万宗水平，创4年新高。预期多项利好因素持续带动下，2026年整体物业注册量势 将续升。 智通财经APP获悉，据香港土地注册处资料显示，2025年12月整体物业(包括一手私楼、二手住宅、一 手公营房屋、工商铺、纯车位及其他等)录8999宗，环比上升约26.4%，创20个月新高。 至于最新一周的二手市况，岑颂谦指出，随着笋盘去货快、补充慢，二手交投减少。综合美联分行资料 显示，全港35个大型屋苑过去一周(2025年12月29日至26年1月4日)合共录46宗成交，较前一周的71宗减 少约35.2%，然而比起去年同期44宗同比仍轻微上升约4.5%。值得留意的是，近期大型焦点新盘收票情 况理想，反映市场气氛相当畅旺，预料随着假日气氛退却， ...

智通财经APP获悉，中原(工商铺)董事总经理潘志明预料，在改装学生宿舍热潮持续下，工商铺大手买 卖交投亦保持炽热，带动整体买卖表现，2026年第一季整体工商铺录得约940宗买卖成交，成交金额约 126亿元(港元，下同)，价量将会较2025年第四季有所上升，料买卖价由平稳至下跌10%。而租务表现则 平稳，明年首季料录得3600宗租务成交，不过租金水平仍会持续偏软，平稳至下跌15%，交投量则会稳 中向上。 至于商厦市场，中原(工商铺)写字楼部董事陈雁楼表示，商厦市场仍由买家主导，买卖价格相对较为受 压，预计2026年商厦呎价持平，个别地区仍有约5%下跌空间，相信随着更多实力买家会因价格理想而 积极入市寻宝，预料2026年第一季可录得约240宗买卖成交，涉及买卖金额约60亿元;租务方面则见平 稳，预料第一季可录得约1500宗水平，整体租金走势与买卖价同步，维持在5%跌幅之内。 至于工厦市场，中原(工商铺)工商部董事刘重兴预料第一季可录得买卖个案约500宗，成交金额约36亿 元，物业价格大致维持平稳，个别地区如黄竹坑、柴湾、观塘则有约5%回落空间。此外，由于工厦物 业空置率持续高企，市场期待政府有机会重新检讨及增加工 ...

Core Insights - The overall property transaction registrations in Hong Kong have remained high, with fluctuations influenced by market sentiment regarding policies and interest rates, as well as weather conditions and holiday periods [1][2] - In September 2025, there were 6,883 property transaction registrations, a 6% increase from August's 6,488, marking a stabilization after two months of decline [1] - The total value of property registrations in September rose by 13% to HKD 54.517 billion, the highest in three months [1] Residential Market - The primary residential market showed strong performance in September, with transaction registrations nearing 2,000, marking the third highest month of the year [1] - The number of primary residential transactions increased by 15% to 1,987, while the total value surged by 25% to HKD 22.330 billion, the second highest of the year [1] - The top three new developments for primary residential registrations in September were Kai Bo Fung II (370 transactions), BLUE COAST II (116 transactions), and Shang Yan Phase 3 (93 transactions) [1] Secondary Residential Market - The secondary residential market rebounded in September, with transaction registrations increasing by 6% to 3,305, maintaining a level above 3,000 for six consecutive months [2] - The total value of secondary residential transactions rose by 12% to HKD 25.010 billion, indicating a positive trend in the market [2] Non-Residential Market - The non-residential market underperformed, with a slight decline in overall transaction registrations, primarily due to a nearly 10% drop in parking space transactions [2] - The total registrations for commercial properties and others fell by 2% to 785, while the total transaction value plummeted by 22% to HKD 3.916 billion [2] - Despite the overall decline, industrial and commercial buildings saw significant increases of nearly 30% and nearly 40%, respectively, but the numbers were insufficient to offset the overall downturn [2] Market Outlook - The market sentiment remains positive, but there are expectations of a slowdown in October due to the upcoming National Day and Mid-Autumn Festival holidays, which may hinder transaction progress [2] - Recent data indicates a contraction in secondary market transactions in late September, leading to predictions of a potential decline in overall property transaction registrations in October, possibly testing the 6,240 level, which would be the lowest in nearly eight months [2]

Core Insights - The overall property registration volume in Hong Kong for July reached 7,199 cases, a slight decrease of approximately 1% from June's 7,221 cases, indicating a stable market above the 7,000 mark for two consecutive months, a situation last seen from April to May of the previous year [1] Group 1: Market Activity - The recent property transaction activity is considered quite active, reflecting a positive market sentiment following the easing of bank interest rates and a reduction in trade tensions [1] - The registration cases in July primarily reflect the market conditions of June due to the time required for signing and submitting sale agreements to the land registry [1] Group 2: Residential Property Performance - In the residential sector, excluding public housing, the registration volume for new private homes and second-hand residential properties totaled 6,104 cases in July, a decrease of about 2.7% from June's 6,273 cases, yet still marking the second-highest level in eight months [1] Group 3: Non-Residential Property Performance - The registration volume for non-residential properties, including commercial shops, parking spaces, and others, reached 1,000 cases in July, an increase of approximately 16.4% from June's 859 cases, marking a 23-month high and the first time surpassing 1,000 cases since August 2023 [1]