Core Viewpoint - The overall property registration in Hong Kong has increased in September, indicating a potential recovery in the real estate market driven by favorable economic conditions and expectations of interest rate cuts by the Federal Reserve [1] Property Registration Summary - As of September 15, a total of 3,512 property registrations were recorded, representing a 6.3% increase from 3,304 registrations in the same period last month [1] - The projected total for September could exceed 7,000 registrations based on current trends [1] - The registration activity in September primarily reflects the market conditions of August due to the time lag between signing contracts and registration [1] Residential Property Summary - In the residential sector, there were 3,086 registrations for both new and second-hand residential properties, marking a 7.8% increase from 2,863 registrations in the same period last month [1] - This increase in residential property registrations has been a key driver for the overall rise in property registration volume [1] Non-Residential Property Summary - For non-residential properties, there were 169 registrations for commercial properties, showing a slight decrease of 0.6% from 170 registrations last month [1] - Conversely, registrations for parking spaces and other properties totaled 210, reflecting an 11% decrease from 236 registrations in the same period last month [1]

Group 1 - The Hong Kong government currently has no plans to allow the payment of stamp duty on non-residential property transactions in installments, citing that the stamp duty constitutes a small portion of the overall transaction cost, especially for properties valued above approximately 21.74 million HKD [1] - The stamp duty for non-residential properties ranges from 100 HKD to a maximum rate of 4.25%, and the highest rate applies only to transactions exceeding 21.74 million HKD [1] - The non-residential property market has shown stable trading activity over the past year, with approximately 3,600 stamp duty applications in the first quarter of 2025/26, representing a 17% increase year-on-year, and the total transaction amount rising over 30% to about 20 billion HKD [1] Group 2 - The Hong Kong government is actively promoting foreign investment and monitoring the non-residential property market, with no current restrictions on mortgage loan-to-value ratios for investors from outside Hong Kong [2] - The "New Capital Investor Entry Scheme" allows applicants to invest in both residential and non-residential real estate, with a maximum investment amount of 10 million HKD counting towards the total investment requirement [2] - In February 2023, the government raised the property value threshold for the 100 HKD stamp duty from 2 million HKD to 3 million HKD, and plans to further increase it to 4 million HKD by February 2025, aimed at reducing stamp duty for certain property transactions [2] Group 3 - The current rate of property rates for non-residential properties is set at 5% of the assessed rental value, which is the same as for residential properties valued at 550,000 HKD or below [3] - The rental index for private offices has decreased by approximately 18% from October 2019 to October 2024, while the assessed rental value for private offices has dropped by about 16% during the same period [3] - The annual reassessment of the assessed rental value by the Hong Kong Rating and Valuation Department effectively reflects the latest market rental trends, and the current property rate for non-residential properties is considered reasonable [3]