Zhitong Finance App learned that Yang Mingyi, senior co-director of the Central Plains Real Estate Research Department, pointed out that Hong Kong recorded 3,185 private residential (including first-hand and second-hand) transactions worth HK$20 million or more in the first three quarters of 2026, with a total value of HK$156.474 billion. The number just surpassed the 3,159 cases in the full year of 2025, up 0.8%, a five-year high after 2021. The amount reached 96.2% of HK$162,658 billion for the full year of last year.
Of these, 1,555 cases and HK$83,948 billion were recorded, amounting to 92.8% and 88.2% of 1,675 cases and HK$95.178 billion last year; 1,630 cases and HK$72,526 billion were recorded, surpassing last year's 1,484 cases and HK$67.48 billion, which is 9.8% and 7.5% higher, showing that second-hand high-priced housing performed well this year.
On a quarterly basis, private residential (including first-hand and second-hand) transactions worth over HK$20 million were recorded in the third quarter, down 41.3% and 29.0% respectively from 1,385 and HK$63.619 billion in the second quarter. The number of cases was a five-quarter low after the second quarter of 2025, and the amount was a four-quarter low after the third quarter of 2025. Affected by the crackdown on illegal cross-border investment at the end of May, Hong Kong stocks declined, buyers became more cautious, and overall high-priced residential transactions slowed down.
On the first hand, in the third quarter of 2026, there were 360 first-hand private residential sales of HK$20 million or HK$24.478 billion, down 49.7% and 26.2% from quarter to quarter. The number of cases was a six-quarter low after the first quarter of 2025, and the amount was a four-quarter low after the third quarter of 2025. It shows that developers are mainly selling properties under HK$20 million, and the lack of large-scale high-priced new listings in the market has dragged down first-hand high-priced residential transactions.
Among them, first-hand transactions of HK$20,000-30 million fell the biggest drop by nearly 60%. The third quarter recorded 113 transactions and HK$2,720 billion, down 58.8% and 59.1% from quarter to quarter. There were 119 transactions of HK$301-50 million and HK$4.444 billion, down 54.4% and 56.1% from quarter to quarter. Trading of HK$50 million or more saw the smallest decline, with 128 transactions and HK$17.315 billion, down 28.9% and up 5.6% from quarter to quarter.
In the third quarter of 2026, the most number of first-hand transactions of HK$20 million or more was registered. Why was Wentian Pride recorded 28, with a total value of HK$858 million. This was followed by Tianxitian Phase 2, which recorded 19 cases with a total value of HK$630 million. 21 Borough Road, Chung Pun Shan (including Phase 1 and Phase 2 Yingtian) and the Phase 4A and 4B Hoi Ying Shan series at Wong Chuk Hang Station recorded 17 cases each, tied for third place, with a total value of HK$2,945 million and HK$811 million respectively.
On the second-hand side, 453 second-hand private residential sales of HK$20 million or more were recorded in the third quarter of 2026, down 32.4% and 32.1% from quarter to quarter. The number and amount were the same four-quarter lows after the third quarter of 2025. There was a strong wait-and-see atmosphere in the property market, and property price adjustments were rampant, leading to a decline in second-hand high-priced housing sales in the third quarter. Since second-hand trading declined less than first-hand trading, the proportion of second-hand cases returned to more than 50% in the third quarter, reaching 56%, the highest in the past six quarters.
Among them, second-hand transactions of HK$20,000-30 million and HK$301-50 million fell sharply by more than 30%. The third quarter recorded 226 cases and 145 cases, down 35.4% and 31.3% quarter-on-quarter; the amount recorded a quarter-on-quarter decrease of HK$5,540 billion and HK$5,511 billion, down 34.9% and 30.4% from quarter to quarter. However, 82 transactions of HK$50 million or more and HK$9.627 billion were recorded during the same period, down only 24.8% and 31.4% from quarter to quarter.
The housing estate with the highest number of second-hand transactions of HK$20 million or more registered in the third quarter of this year was West Mid-Levels Treasure Garden, which recorded 16 cases, with a total value of HK$460 million. Nanchang Station recorded 14 cases, ranking second, with a total value of HK$503 million. Bel-Air, Pokfulam recorded 12 cases, ranking third, with a total value of HK$466 million.