Hong Kong's first-quarter real estate transaction registrations hit a record high for the same period, with some spending as much as HKD 129M to purchase 10 properties in a single go.

Aug. Daily April 2 Hong Kong News Hong Kong’s housing market is leading the country with strong momentum. According to data from Centaline Property, in the first quarter of this year, Hong Kong recorded 5,373 cumulative new-home transaction registrations, with a total value of HK$62.8 billion. Year over year, the numbers rose by 38% and 94%, respectively, hitting the highest level for the same period in past years.

The rebound in market heat has attracted large amounts of capital from both the mainland and abroad. As of March 20, Hong Kong recorded 265 “large buyer” move-in cases in the first quarter. Among them, someone reportedly spent as much as HK$129 million to snap up 10 apartments in a row.

This round of market activity has benefited from “timing, location, and people.” Geopolitical conflicts have prompted global safe-haven funds, such as those from the Middle East, to turn toward Hong Kong. Rental yields and falling interest rates have driven the cycle back to normalization, while the talent program has brought in support for genuine demand. At present, confidence in the Hong Kong market has been significantly restored. There are reports of people flipping a property for a profit of HK$1.1 million on paper just one day after taking possession.