Central Plains Real Estate: Hong Kong recorded 767 first-hand private residential transactions in July, down 61.3% month-on-month to an 18-month low

Zhitong Finance App learned that Yang Mingyi, senior co-director of the Central Plains Real Estate Research Department, said that in July 2026, 6715 total building sales contract registrations (including residential, parking spaces and commercial properties) were recorded, with a total value of HK$51,747 billion, down 28.8% and 37.5% respectively from 9434 cases and HK$82,845 billion in June. The number and amount were the same 11-month low after 6462 cases and HK$47.775 billion in August 2025. In terms of first-hand private housing, 767 cases and HK$15.79 billion were recorded in July, which was a significant decrease of 61.3% and 45.6%, respectively, compared with 1,983 cases and HK$29.02 billion in June. First-hand trading volume fell below 1,000 for the first time in 17 months. The number hit an 18-month low after 758 transactions in January 2025, and the amount hit a 14-month low after HK$14.79 billion in May 2025. During June, developers slowed down the pace of marketing, which dragged down a sharp decline in first-hand registrations.

Yeung Ming-yee pointed out that at the end of May, the China Securities Regulatory Commission severely cracked down on illegal cross-border investment, Hong Kong stocks continued to fall under pressure, and there was a strong wait-and-see atmosphere in the property market, which affected a marked slowdown in transactions during June. It is worth noting that since the government's acquisition of Wang Fu Yuen in Tai Po has begun to be registered one after another, the overall decline in buildings in July was less than that of first-hand and second-hand private properties. Furthermore, the total number of cases recorded in the first seven months of this year was 56,670 cases and HK$462,036 billion, reaching 70.2% and 75.2% of 80,702 cases and HK$614.277 billion in 2025. It is estimated that there will be about 88,000 cases for the full year of 2026, which is expected to be a 5-year high after 96,133 cases in 2021.

The total number of residential property transactions recorded in July was 4,462 and HK$41,891 billion, down 41.7% and 44.6% respectively from 7,650 and HK$75.607 billion in June. The number of cases hit a 17-month low after 3,200 cases in February 2025, and the amount hit a 14-month low after HK$38.244 billion in May 2025. In addition, 45,272 cases and HK$408.767 billion were recorded in the first seven months, which reached 72.1% and 78.6% of 62,832 cases and HK$519.830 billion for the full year of 2025.

Furthermore, 13,226 cases and HK$166.49 billion were recorded in the first seven months, reaching 64.4% and 73.8% of 20,525 cases and HK$225.55 billion for the full year of 2025. It is estimated to be around 18,000 cases for the full year of 2026, which is expected to be the second highest in 7 years after 20,685 cases in 2019.

The highest number of new listings registered in July was Hung Hom Shougang Phase 4, which recorded 82 cases and HK$633 million. The second place was Hyde Park Phase 1 in Chai Wan, which recorded 54 cases and HK$508 million. The third was Kai Tak's Miami Quay I, which recorded 51 cases and HK$529 million.

In terms of second-hand private housing, 3,374 cases and HK$26.92 billion were recorded in July, down 37.1% and 42.0% respectively from 5,363 cases and HK$46.39 billion in June. The number of cases was an 11-month low after 3,285 cases in August 2025, and the amount was a 9-month low after HK$26.18 billion in October 2025. The stock market weakened, buyers became more cautious, the second-hand market saw a tug-of-war, and transactions declined. Furthermore, in the first 7 months, 30,183 cases and HK$239.16 billion were recorded, reaching 75.8% and 81.9% of 39,821 cases and HK$291.93 billion in the full year of 2025. It is estimated to be around 46,000 cases for the full year of 2026, which is expected to be a 5-year high after 51,928 cases in 2021.

In terms of large-scale housing estates, 36 cases were recorded in Kingswood Villas in July, 25 cases in Mei Foo Sun Chuen (a total of HK$199 million), 24 cases in Shatin First City (HK$118 million), and 22 cases in Taikoo Shing (a total of HK$256 million).

Overall second-hand public housing (residential, public housing, green housing and sandwich housing) sales contract registrations (including free market and secondary market) recorded 1,314 cases and HK$5.15 billion in July, a sharp increase of 68.7% and 58.0%, respectively, compared with 779 cases and HK$3.26 billion in June. Among them, Wang Fu Yuan in Tai Po accounted for 788 units and HK$3.02 billion. Excluding Hongfuyuan's acquisition registration, the month-on-month decrease was 32.5% and 34.7%.