Hong Kong Real Estate: The total number of property registrations in Hong Kong is expected to reach 5,700 in August, down about 15% from month to month

Zhitong Finance App learned that Wang Pindi, director of the Hong Kong Real Estate Research Department, said that according to data from the Comprehensive Land Registry of the Hong Kong Real Estate Information Research Department, overall properties (including first-hand private and second-hand homes, first-hand public housing, commercial stores, parking spaces and other non-residential properties) have recorded 4,410 registrations so far this month (as of the 24th), a decrease of about 18.6% from 5,416 in the same period last month; if we estimate the current registration progress, the total number of cases in August is expected to reach 5,700 cases, down about 15% from the previous month. Since it takes time to sign a sales contract and submit it to the Land Registry for registration, August registration cases generally reflect market conditions in July.

In fact, market conditions have improved recently. On the primary market side, new listings in Kowloon launched the first round of sales at attractive prices last week, stimulating the release of a large amount of purchasing power. The response was enthusiastic, they were sold out on the same day, and it is expected to drive a recovery in first-hand trading volume this month. According to the Hong Kong Real Estate Research Department's comprehensive “First-hand Residential Property Sales Information Network” data and market news, in July (as of the 24th), more than 760 first-hand transactions were recorded, which is currently close to the level of 810 cases in the previous month. I believe this month is expected to eventually return to the level of 1,000 transactions, which is expected to rise from month to month.

As for the second-hand market, the property market atmosphere was driven by the bank's front-line branch. According to figures recorded by the bank's frontline branch, the 20 major housing estates in Hong Kong recorded 38 second-hand sales transactions last week (August 17 to August 23), an increase of 12 cases, or about 46.2%, from the previous week (August 10 to August 16), rising for 2 weeks to a record high of 11 weeks.

If the atmosphere in the property market continues to improve, it is expected that second-hand residential transactions will become more active, and will be reflected in the number of residential property registrations in the future, while driving up the overall number of property registrations.