The Zhitong Finance App learned that Chen Haichao, head of the research department of Li Jiagge Real Estate, said that new listings in the Hong Kong property market experienced a diving decline in the third quarter, and trading declined markedly throughout the quarter, hitting a new low in a single quarter since nearly eight quarters. According to data from the Hong Kong Land Registry, in the third quarter of 2026, there were 3066 first-hand private property transactions recorded in Hong Kong, a sharp drop of 55% from the peak of 6,779 in the second quarter, and a 45% decrease from 5536 in the same period last year. The registration amount involved in the third quarter of this year was HK$48.284 billion, down 43% from the previous quarter, the lowest in the past six quarters.
Based on the average sales price per transaction, the third quarter of this year was HK$15.748 million, a 25% increase over the previous quarter, a record high for 21 quarters (that is, more than 5 years) since the third quarter of 2021. As for the first three quarters of this year, a total of 15,220 transactions were registered for first-hand private homes. In addition to 5% more than 14,488 cases in the same period last year, it is also a record high for the same period of 7 years since 2000.
According to regional statistics, Hong Kong Island, Kowloon and the New Territories recorded an overall decline in first-hand private home registrations in the third quarter of this year. Among them, although trading volume in the Kowloon region recorded a significant decline, it was still the highest among the three districts; the data showed that first-hand trading registrations in the Kowloon district plummeted 56% from 3,581 in the next quarter to 1,578 in the third quarter; involving a registration amount of HK$22.475 billion, a decrease of 45% from the previous quarter. The number of first-hand private home registrations in the New Territories shrank by 52% from 2,441 in the second quarter to 1,162 in the third quarter, while the total registered value dropped by 55% to HK$11.084 billion. As for Hong Kong Island, there were only 326 first-hand sales registrations in the third quarter, a sharp decrease of 57% over the previous month; the amount involved was HK$14.725 billion, down 27% from the previous quarter.
According to real estate classification, of the new listings registered in the third quarter of this year, “Rui Jing I” in Cheung Sha Wan recorded the highest number of 482 sales registrations, involving a total registered value of HK$4.573 billion, with an average transaction price of HK$9.49 million per transaction. Second, Hong Kong Yuen Long also had 392 “Qianyu” cases, ranking first, involving a total registered value of HK$2,139 billion; while Sunrise Kangcheng Haidai Bay II recorded 280 registered cases and ranked third. As for the top ten most popular new listings in the third quarter, the one with the highest average transaction price was Hong Kong Island South Coast Phase 1 “Jinhuan”, which recorded 1 registration during the period, with an average investment of up to HK$55 million; while “Qianyu”'s HK$5.46 million was the lower average price.
Chen Haichao pointed out that although the market conditions in the third quarter were affected by high oil prices due to the summer season, the World Cup, and repeated wars in the Middle East, and concerns about rising interest rates, market purchasing power will re-accumulate, and the fourth quarter is expected to improve. Coupled with the slow recovery in property market transactions and a good atmosphere, if there were an average of about 1,600 first-hand registrations per month in the fourth quarter, the entire fourth quarter is expected to record about 4,800 cases, a sharp rebound of 57% compared to the previous quarter. It is also expected to drive first-hand registrations to break through 20,000 throughout the year, which has an opportunity to hit a seven-year high since 2020.