商铺方面，2025年首十个月整体租金下跌约4%，核心区商铺空置率维持稳定，旅客人次回升有望带动 零售及餐饮业收益增长，但非核心区商铺租金继续受消费模式转变影响而承压。 受惠于印花税门槛提高至400万港元、低息环境及多项吸引人才政策，2025年香港住宅物业市场气氛显 著回暖，全年成交量录得近5.7万宗，同比增长约7.3%。其中，一手及二手住宅分别成交1.88万宗及3.81 万宗，反映市场购买力逐步释放。400万港元以下住宅物业成交显著增加，内地买家占整体住宅成交超 过两成，部分新盘更高达三成。 工商物业方面，报告指出，2025年非住宅物业市场整体表现疲弱。商业楼宇、写字楼及工厦楼价分别下 跌约8.8%、11.1%及12.3%，租金亦同步下调。甲级、乙级及丙级商厦价格则分别下调约9.9%、15.3%及 11.3%，市场空置率持续高企。虽然金融及专业服务需求带动部分核心区优质写字楼租金回稳，但非核 心地区租金仍然受压。工厦及仓库市场受全球贸易不确定性及本地物流需求下降影响，2025年首十个月 租金下跌约4.2%。香港政府积极优化工厦重建及改装措施，释放市区工业用地，但普缙认为短期内工 厦市场仍需时调整。 智通财经A ...

陈永杰预期，2025年全年差估署楼价指数可录3.5%升幅。租金指数方面，继续受惠于各项专才政策， 指数连升12个月，更创历史新高水平。楼价连升6个月，租金连升12个月，今年出现了近年罕见的租价 齐升现象。鉴于现时楼价与历史高位仍有25%的差距，陈永杰认为，买楼收租享逾3.5%的租金回报，仍 是明年趋势。但相信明年租金升势将放缓，香港楼价升幅将跑赢租金。 智通财经APP获悉，香港差饷物业估价署刚公布楼价指数，2025年11月私人住宅售价指数报297.3点， 月环比升0.92%，已连升6个月，为逾4年最长升浪，累涨约3.77%。今年首11个月累升约2.8%。租金指 数则连升12个月，月环比升0.2%，全年累升约4.26%，最新报200.7点，再创历史新高。 香港财政司司长昨日在网志上表示，香港经济表现良好，随着旅客增加，出口上升，各项经济数据理 想。陈永杰认为各项经济基础因素不变，市民收入增加有利香港楼市，而货币贬值亦促使资金流向实物 资产，同时于租金升势未停的影响下，租客转租为买增加，将进一步推升住宅物业买卖需求。以中原城 市领先指数CCL为例，全年已录得4.3%升幅。 中原地产亚太区副主席兼住宅部总裁陈永杰表 ...

天刚蒙蒙亮，西九龙高铁站的人潮尚未完全散去，一位中介已带着广州看房团匆匆奔赴楼盘——这样的奔忙让他每月能促成十余宗交易。另一边，来自深 圳的中介干脆"常驻"香港，"咨询电话被打爆，加班成了日常"。 售楼处里，南来北往的购房者摩肩接踵，其中既有扎根香港的普通家庭，也有近两年通过人才计划赴港的新市民，他们正趁着政策松动、利率下滑的窗口 期，实现从"租客"到"业主"的跨越。 楼盘的热销数据更直观地印证着这份热度：启德天玺·天第2期次轮推出的56个单位即日售罄，超额认购达37倍，实现连续两轮"日光"；湾仔春园街 SPRING GARDEN项目两小时内售罄，套现超5.6亿港元；九龙城瑧博首日开盘，115套房源瞬间沽清…… 一个个"日光"案例，将香港楼市久违的热度推至台前，仿佛按下了发展的"加速键"。 数据印证回暖：量价齐升的明确信号 市场的火热并非偶然，权威数据给出了坚实支撑。差饷物业估价署数据显示，香港9月私人住宅售价指数升至292.5，连续第四个月上涨，创下14个月以来 的新高。 豪宅市场的表现尤为亮眼。10月香港录得66宗成交金额逾5000万港元的大额房屋交易，较9月的33宗实现翻倍，创下一年来的新高。从全年数据 ...

点击按钮▲立即预约 " 摩根士丹利认为，香港楼市在经历七年低迷后，有望迎来 4—5 年的上升周期；瑞银认为，香港住宅物业市场正处于转折点，将在未来 3—5 年进入上升周期。 " 文 /巴九灵（微信公众号：吴晓波频道） 回暖的香港楼市 清晨的西九龙高铁站，人潮还没散去，一位中介已经带着广州的看房团奔向楼盘，一个月能促成十余宗交易；另一位深圳的中介，最近"常驻"香 港，"咨询的客户太多，每天都在加班"。售楼处，挤满了南来北往的普通购房者，其中不乏近两年流入香港的人才，趁着政策松动、利率下滑，一 举实现"租转买"。 楼盘的热度，更是令人目不暇接。香港启德天玺 · 天第2期次轮销售56个单位即日全数售罄， 超额认购达37倍， 已经连续两轮销售实现"日光"； 湾仔春园街SPRING GARDEN项目两小时售罄，套现超5.6亿港元；九龙城瑧博首日发售，115套房源即日沽清…… 一个个"日光"项目、一阵阵购房浪潮，把一种久违的热度推上台面——香港楼市，仿佛悄悄按下了"加速键"。 差饷物业估价署数据显示，香港9月私人住宅售价指数升至292.5，连续第四个月上涨，创14个月以来新高。 价格在上涨，成交量更是一路踩油门。据中原地 ...

Core Insights - The Hong Kong property market is experiencing a surge in transactions, with significant increases in both new and secondary market sales due to favorable market conditions and interest rate cuts [1][2] Group 1: Market Performance - Central Plains Real Estate reported 16 transactions in its top ten estates over the weekend, a 60% increase from the previous week's 10 transactions [1] - Midland Realty recorded 17 transactions in its top ten secondary estates, a 70% increase year-on-year, maintaining double-digit activity for five consecutive weekends [1] - The total transactions in the top 15 estates reached 20, marking an increase of approximately 66.7% compared to the previous week [1] Group 2: Buyer Sentiment - The market is filled with positive news, leading to increased buyer confidence, with many buyers accelerating their purchasing decisions due to fears of rising prices [1] - There is a notable presence of first-time buyers, investors, and large-scale buyers in the market, indicating a robust demand for both new and secondary properties [1] - The ongoing effects of interest rate cuts are driving buyer interest, with expectations for continued price increases in the secondary market [1] Group 3: Regional Performance - In the Hong Kong Island area, three estates recorded one transaction each, a 100% increase from the previous week [2] - The Kowloon area saw a total of five transactions across four estates, a decrease of approximately 28.6% week-on-week [2] - The New Territories experienced a significant surge, with ten transactions across three estates, reflecting a 400% increase from the previous week [2]

Core Viewpoint - The Federal Reserve has reduced interest rates by 25 basis points as expected, and plans to end its balance sheet reduction on December 1, which has prompted major banks in Hong Kong to lower their rates by 0.125% [1] Group 1: Market Outlook - The CEO of a major real estate group in Hong Kong believes that the combination of further interest rate cuts and positive factors from US-China talks will lead to a rise in both prices and transaction volumes in the Hong Kong property market in November [1] - Despite rising unemployment and high residential property inventory, the wealth effect from the rising Hong Kong stock market, increasing rents, and demand for "rent-to-buy" options are expected to provide strong support for the property market [1] Group 2: Transaction Volume Predictions - The CEO anticipates that the transaction volume for new properties in November could reach 2,000 units, marking the 10th consecutive month of over 1,000 transactions, which would be the longest streak since the implementation of the "Residential Property Sales Ordinance" in April 2013 [1] - The second-hand property market is also expected to benefit from positive market sentiment, with predictions of reaching 4,500 transactions in November, which would be the highest level in 19 months [1] Group 3: Annual Sales Forecast - The CEO projects that the overall transaction volumes for both new and second-hand properties will set new records for the year, with new private residential sales expected to reach 20,000 units, the highest since the "Residential Property Sales Ordinance" came into effect in 2013 [1] - The estimated total for second-hand residential transactions for the year is expected to reach 46,000 units, marking a four-year high [1]

Core Viewpoint - The Hong Kong property market has benefited from interest rate cuts and rising rents, leading to increased willingness among "rent-to-buy" users and long-term investors to enter the market. The first ten months of this year saw a significant increase in residential property registrations, reaching a four-year high [1]. Summary by Category Overall Market Performance - In the first ten months of this year (up to October 16), Hong Kong recorded 51,353 residential property registrations, a 10.2% increase from 46,603 registrations during the same period last year, marking the highest number for this timeframe in four years [1][4]. Registration by Price Segment - Residential properties priced at HKD 5 million or below recorded 24,645 registrations, up 16.9% from 21,080 last year, making it the most registered category and showing the most significant growth. This increase is attributed to the adjustment in the stamp duty threshold in February [3][4]. - Properties priced between HKD 5 million and HKD 10 million saw 19,182 registrations, a 6.3% increase from 18,052 last year [4]. - Properties priced over HKD 10 million recorded 7,526 registrations, a slight increase of 0.7% from 7,471 last year [4]. Performance by District - The New Territories recorded the highest number of registrations at 26,419, a 15% increase from 22,966 last year [5]. - The Hong Kong Island district saw a significant increase of 21.6%, with 9,850 registrations compared to 8,100 last year, marking the highest growth among the three districts [5]. - In contrast, the Kowloon district experienced a decline, with 15,084 registrations, down 2.9% from 15,537 last year [5].

Core Insights - In September, mainland buyers significantly increased their purchases of residential properties in Hong Kong, with both transaction volume and value rising [1][2] - The total number of registrations by mainland buyers reached 1,304, marking a month-on-month increase of approximately 17.5%, the second highest in 10 months [1] - The monetary value involved in these transactions was about HKD 13.54 billion, reflecting a month-on-month increase of approximately 23.2%, also the highest in 10 months [1] Group 1: Market Trends - The increase in registrations is attributed to the popularity of new developments in areas like Kai Tak and Wong Chuk Hang, with many projects being mid to high-end or luxury properties [1] - Analysts suggest that the recovery of Hong Kong property prices and the resumption of interest rate cuts are likely to accelerate the pace of new property sales, potentially leading to continued growth in mainland buyer activity in Q4 [1] Group 2: Regional Preferences - In September, the Kai Tak area had the highest number of registrations from mainland buyers, totaling 147, which accounted for 60.2% of individual buyer registrations [1] - The second highest area was Wong Chuk Hang/Sham Wan, with 94 registrations, representing 54% of individual buyers, primarily from the BLUE COAST series [2] - Tseung Kwan O ranked third with 90 registrations, making up about 20% of individual buyers, mostly from the Kai Bo Fung series [2]

Core Viewpoint - The Hong Kong property market is expected to experience a strong upward trend in prices, with an annual increase projected between 3% to 5%, driven by various positive factors including the new government policy measures and the US interest rate cuts [1] Group 1: Market Trends - The Hong Kong private residential price index rose by 0.14% month-on-month in August, marking a continuous increase for three months and a recovery of 1.26% from the year's low [1] - The latest "Mafengwo Price Index" reported a value of 129.1 points as of September 22, reflecting a 2.23% increase from the year's low and a year-to-date rise of 0.76% [1] Group 2: Rental Market Dynamics - The private residential rental index increased by 1.12% month-on-month in August, continuing its upward trend for nine consecutive months, with the growth rate expanding due to the traditional peak rental season in Q3 [1] - The strong demand for housing in Hong Kong, coupled with government efforts to attract talent, is expected to further drive rental prices up, leading to an increase in "rent-to-buy" demand and long-term investors entering the market [1]

Core Viewpoint - The Central City Leading Index (CCL) has shown a weekly increase of 1.2%, reaching 138.74 points, driven by rising expectations of interest rate cuts and fluctuating housing prices [1] Group 1: CCL Performance - The CCL is currently at its third highest level of 2025, just 0.51 points or 0.37% below the year's peak of 139.25 points [1] - Over the past 15 weeks, the CCL has recorded ten increases and five decreases, rising 2.65% from the low of 135.16 points [2] - The CCL Mass index reached 140.77 points, marking a weekly increase of 1.38% and a 57-week high since early August 2024 [2] Group 2: Regional Price Trends - In the New Territories West, the CCL Mass index rose 2.36% to 128.17 points, while Kowloon saw a 2.19% increase to 139.72 points, both reaching their third highest levels of the year [3] - The CCL Mass index for Hong Kong Island decreased by 1.01%, marking a cumulative drop of 2.65% over two weeks [3] - Year-to-date, the CCL has increased by 0.80%, with the CCL Mass up 1.91% and the CCL for large units down 2.73% [3]