First-hand residential sales in Hong Kong hit a seven-year high of 12,300 in the first 7 months, supporting 60% of sales at the end of the year

The Zhitong Finance App learned that according to the Hong Kong Real Estate Data Research Department's “First-hand Residential Property Sales Information Network” data and market news, the total number of first-hand residential transactions in Hong Kong from January to July this year was 12,347, up 9.3% from the previous year, setting a record high for the same period in the past seven years. The total turnover surpassed HK$155.67 billion, a sharp increase of more than 50% over the same period last year. The amount also reached a record high since the first-hand sales regulations.

First-hand transaction amounts increased significantly year-on-year in the first seven months of this year, mainly driven by late market transactions. The number of new and end-of-shipment transactions was almost equally divided during the period, with 6,200 and 6,147, respectively. However, in terms of monetary contribution, at the end of the day, the goods accounted for 62.3% of the total turnover with a value of about HK$97.03 billion, which is about 65.5% more than the new market.

The analysis indicates that the transaction amount at the end of the day is far ahead and is closely related to its transaction structure. In the first seven months of this year, a total of 2,723 sales of over HK$10 million were sold at the end of the year, accounting for 44.3% of the total sales volume at the end of the day; while only 1,018 new listings were sold at the same price segment, accounting for only 16.4%. Mid-priced properties are clearly more sought after in the end of goods market.

In terms of regional distribution, Kai Tak became the most active sector with tens of millions of end-of-day transactions. A total of 851 cases were recorded during the period, accounting for about 31.3% of the total number of similar transactions. Shatin and Ho Man Tin followed with 319 and 267 cases respectively. Aberdeen, Ap Lei Chau (including Wong Chuk Hang) and Pak Shek Kok also ranked in the top five. The above five regions contributed a total of 1,816 ten-million-level end-of-goods transactions, with a concentration of 66.7%.