以地区划分，首12个月落成新楼以九龙区占最多，涉及9,002伙，占整体落成量接近一半，不少来自启 德等供应重镇。 智通财经APP获悉，据香港差估署公布数据显示，12月份香港私楼落成量为891伙，虽然较对上一个月 的383伙环比急增1.3倍，不过累积2025年全年落成量仍然只有18,448伙，相较2024年的24,261伙，同比 下跌24%，相较香港政府去年初预测约20,862伙落成量，则达标接近9成。 在12月份落成的单位，继续集中以中小单位为主，其中实用面积少于431平方呎的A类单位涉及537伙， 占期内落成量逾6成，而面积431至752平方呎中小型单位亦录341伙，占整体38%，其余只有5间及8间分 别属于中型单位(753至1,076平方呎)及大型单位(1,076至1,721平方呎)。 ...

Core Viewpoint - The article highlights the increasing trend of mainland Chinese buyers purchasing properties in Hong Kong, driven by factors such as a preference for new developments, emphasis on transportation accessibility, and a willingness to pay higher prices [4][5][6]. Group 1: Market Trends - In 2025, over 56,600 private property transactions were recorded in Hong Kong, with buyers using Mandarin pinyin accounting for 13,958 transactions, approximately 25% of the total, marking a 20% increase from 2024 [5]. - The total amount involved in these transactions reached 1,410 billion HKD, an increase of over 8% compared to 1,303 billion HKD in 2024 [5]. - The number of mainland buyers purchasing properties in Hong Kong has consistently exceeded 100 billion HKD for two consecutive years, with both price and volume rising for three years [5]. Group 2: Buyer Preferences - Mainland buyers are increasingly favoring new properties, with 6,502 transactions recorded in 2025, a 17% year-on-year increase, accounting for over half of the total transactions [6]. - The total amount for new property transactions by Mandarin pinyin buyers was approximately 789 billion HKD, slightly lower than the previous year but still among the highest historical figures [6]. - The demand for properties in the Kai Tak area, known for its proximity to the West Kowloon high-speed rail station, has surged, with 2,222 new property transactions recorded in 2025, of which 52.6% were made by Mandarin pinyin buyers [7]. Group 3: Luxury Market Dynamics - The luxury property market in Hong Kong is complex, with mainland buyers accounting for over half of transactions exceeding 10 million HKD [8]. - In 2025, mainland buyers represented approximately 69.7% of transactions for properties priced over 50 million HKD, 64.3% for properties between 20 million and 50 million HKD, and 57.3% for properties between 10 million and 20 million HKD [8]. - The introduction of a new investment immigration plan in 2024, allowing investments in residential properties priced at 50 million HKD or above, is expected to boost transactions in this segment [9]. Group 4: Future Outlook - The Hong Kong real estate market is anticipated to remain active in 2026, driven by factors such as developers actively reducing inventory, new projects being promoted at relatively low prices, and interest rate cuts stimulating demand [10]. - The influx of mainland capital, referred to as the "North Water Effect," is expected to continue influencing the market positively [10]. - Analysts predict that the number of Mandarin pinyin buyers entering the market may exceed 15,000 in the coming year, indicating a growing influence of mainland buyers in the new property market [10].