Hong Kong property transactions surged to a four-month high in April, while the value and volume of home sales hit their highest level in 24 months, according to the latest official data, underscoring the resilience of the city’s real estate sector amid uncertainties over interest rates and the US-Israel war on Iran.
A total of 8,692 transactions across homes, offices, shops, car parking spots and industrial spaces were concluded last month, up 12.3 per cent from March’s 7,737 deals, according to data released on Tuesday by the Land Registry. The total sales value rose 17 per cent to about HK$72.9 billion (US$9.3 billion).
Sales of new and second-hand residential units climbed 16.7 per cent month on month to 7,368 in April, the highest since April 2024 when 8,551 units were sold, the data showed. The sales value in April increased about 15.4 per cent over March to HK$63.67 billion.
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“The number of new home sales registrations has rebounded significantly, coupled with stable performance in the secondary market and commercial and industrial properties, resulting in a continued boom in the market,” said Derek Chan Hoi-chiu, head of research at Ricacorp Properties.
Given the strong sales of new homes in recent weeks, Chan estimated that primary residential transactions in May could exceed 4,300, boosting overall property deals to about 8,730.
A steady recovery in the city’s residential market was spurring a wider recovery for the city’s office and retail segments, according to Morgan Stanley.
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