Core Insights - The number of second-hand residential properties in Hong Kong registered over HKD 10 million reached 5,335 in 2025 (as of December 23), marking a 14.6% increase from 4,656 in 2024, the highest in three years [1] - The total registration of second-hand residential properties (including private and public housing) was 45,331 in 2025, up 11.3% from 40,734 in 2024, with the over HKD 10 million segment showing a stronger growth rate [1] - The proportion of over HKD 10 million second-hand residential registrations increased from approximately 11.4% in 2024 to about 11.8% in 2025 [1] Regional Performance - In 2025, the Island District recorded the highest number of over HKD 10 million second-hand residential registrations at 1,968, a 14.4% increase from 1,720 in 2024 [1] - The Kowloon District saw the most significant growth, with 1,715 registrations, up 19.4% from 1,436 in 2024 [1] - The New Territories recorded 1,652 registrations, reflecting a 10.1% increase from 1,500 in 2024 [1] Property Development Rankings - The top property development for over HKD 10 million second-hand residential registrations in 2025 was Ming City, with 162 registrations, a 30.6% increase from 124 in 2024 [2] - Taikoo Shing ranked second with 115 registrations, a decrease of 6.5% from 123 in 2024 [2] - Bayshore recorded 100 registrations, ranking third, which is a 66.7% increase from 60 in 2024 [2]

Core Viewpoint - The Hong Kong property market is experiencing a decrease in the registration of second-hand residential properties priced over HKD 10 million, with a projected total of approximately 440 registrations for August, despite being higher than the average monthly registrations in the first seven months of the year [1] Group 1: Registration Data - As of August 25, 2023, there have been 358 registrations of second-hand residential properties over HKD 10 million, a decrease of about 9.4% compared to 395 registrations in the same period last month [1] - The projected total for August is around 440 registrations, which is approximately 6% higher than the average of 415 registrations per month in the first seven months of 2023 [1] - The total registrations for second-hand residential properties this month stand at 3,042, down about 12.3% from 3,468 registrations in the same period last month [1] Group 2: Market Share and Regional Performance - The share of registrations for second-hand residential properties over HKD 10 million accounts for approximately 11.8% of the total second-hand residential registrations this month, an increase of about 0.3 percentage points from 11.5% in July [1] - In terms of regional performance, the New Territories recorded 118 registrations, a decrease of about 11.3% from 133 last month; Kowloon recorded 102 registrations, down about 27.7% from 141; while Hong Kong Island saw an increase to 138 registrations, up about 14% from 121 last month [1]