Core Insights - The transaction volume of luxury residential properties in Hong Kong exceeding HKD 50 million reached 66 cases in October, a significant increase from 33 cases in September, marking a nearly 100% rise and the highest level in a year since October last year [1] - For the first ten months of this year, there were 322 transactions of luxury properties exceeding HKD 50 million, slightly below the 331 transactions recorded in the same period last year, representing the second-highest level in nearly seven years [1] - Factors such as the US resuming interest rate cuts, easing monetary policy in mainland China, and a reduction in US-China tariff disputes are boosting market confidence, alongside the launch of new luxury property projects [1] Market Performance - The luxury property market is expected to challenge the 400 transaction mark for properties exceeding HKD 50 million this year, potentially surpassing last year's record of 396 transactions and setting a new high since the implementation of the first-hand sales regulations in 2013 [1] - Among the 322 transactions recorded in the first ten months, the Kai Tak area led with 71 transactions, followed by Hong Kong Island and Ap Lei Chau with 66 transactions, and Mid-Levels with 43 transactions [1] - The top five districts accounted for 245 transactions, representing 76% of the total transactions during this period [1] New Developments - In terms of new developments, the Wong Chuk Hang area recorded the highest number of transactions with 32 cases, followed by Ap Lei Chau with 30 cases, and Kai Tak with 28 cases [2] - Other notable projects include St. George's Mansions in Ho Man Tin with 26 transactions and the Kai Tak Tian Long with 23 transactions [2] - Although the top five areas for transactions are concentrated in Hong Kong Island and Kowloon, there were also transactions exceeding HKD 50 million in the New Territories, including 7 cases in Tai Po and 4 cases in Ma On Shan [2]