According to data compiled by Midland Realty Research Center from the Land Registry, Hong Kong recorded a total of 6,459 property registrations in August across all categories (including first-hand private residential, second-hand residential, first-hand public housing, commercial and industrial properties, car parking spaces, and others), representing a month-on-month decline of approximately 10%. However, August registrations were nearly 3% higher than the average of about 6,294 units recorded in the first seven months of this year, reflecting sustained property market activity.
Midland Realty analyst Sum Chung-him noted that given the time lag between contract signing and registration with the Land Registry, August registration figures primarily reflect July market conditions. Regarding August market conditions, despite recent increases in interbank rates pushing H+mortgage rates back to the cap level, market expectations of US rate cuts in September and potential Hong Kong bank mortgage rate reductions suggest continued positive property transaction momentum in August, likely stabilizing above the 6,000-unit level, which should be reflected in September registration figures.
For the latest week's secondary market performance, the launch of a prominent new development in urban areas diverted market attention, and with premium listings being absorbed without adequate replenishment, secondary market activity declined week-on-week. According to Midland branch data, the 35 major housing estates across Hong Kong recorded a combined 67 transactions in the past week (August 25-31), down approximately 18.3% from the previous week's (August 18-24) 82 transactions, but still about 8% higher than the year-to-date weekly average of approximately 62 transactions.
Dividing the 35 estates by three regions, all areas experienced week-on-week declines, with Kowloon showing the steepest drop in transaction volume. The 10 Kowloon estates recorded 19 transactions last week, down over 30% week-on-week. Whampoa Garden decreased by 8 transactions, while Laguna Verde and Festival Walk each declined by 2 transactions. Mei Foo Sun Chuen, Victoria Harbour, and Sceneway Garden each dropped by 1 transaction. Despite Metro Town and Kornhill Plaza each adding 2 transactions, and Telford Gardens and Laguna City each gaining 1 transaction, Kowloon's overall trading activity still declined.
On Hong Kong Island, the 8 estates recorded 16 transactions last week, down approximately 11.1% week-on-week. South Horizons and South Island decreased by 3 and 2 transactions respectively, while Chi Fu Fa Yuen and Belcher's Hill each declined by 1 transaction. Although Taikoo Shing and Kornhill increased by 3 and 2 transactions respectively, Hong Kong Island still saw reduced trading activity.
In the New Territories, 17 estates recorded 32 transactions last week, also down approximately 11.1% week-on-week, similar to Hong Kong Island's decline. Kingswood Villas decreased by 4 transactions, while Dynasty Heights and Waldorf Garden declined by 3 and 2 transactions respectively. Tsuen Wan Centre, Maritime Bay, Pinehill Village, and Yuen Long Centre each dropped by 1 transaction. Although Allway Gardens, Luk Yeung Sun Chuen, and Rambler Crest each added 2 transactions, and Lai Sing Gardens, Wonderland Villas, and City One Shatin each gained 1 transaction, the New Territories still experienced declining trading activity last week.