The Zhitong Finance App learned that Chen Haichao, head of the Ricard Real Estate Research Department, said that after a sharp rise in first-hand sales in Hong Kong in September, trading registration volume declined slightly in October, but overall trading performance was still strong, maintaining a high level of more than 1,000 units for two consecutive months. According to data from the Comprehensive Land Registry, Hong Kong recorded a total of 1,376 first-hand private home sales registrations in October, with a total value of HK$18.534 billion, a slight decrease of 5% and 12%, respectively, from 1,447 cases and HK$21.03 billion in September. Although the number declined slightly after 2 months of continuous increase, it was still the second highest in the past 4 months, and the amount fell simultaneously.
By region, the number of new listings registered in Hong Kong's three districts in October this year showed a “one rise and two falls” pattern. Among them, Hong Kong Island had the most outstanding performance, surging nearly 1.4 times from month to month. Mainly due to the popularity of new listings on Hong Kong Island during the month and the high number of registrations, the number of first-hand private home registrations on Hong Kong Island recorded 264 in October, a sharp increase of 1.38 times from 111 in September. The total value of trade registrations on Hong Kong Island also increased by 12% during the period, reaching HK$6.624 billion.
On the Kowloon side, although the number of registrations fell slightly by 5% month-on-month to 903 cases (946 in September), the performance remained steady, accounting for 65.6% of the total registration volume in Hong Kong, and continued to be the main battleground for transactions. During the period, the registration amount involved in the Kowloon region decreased by 13% month-on-month to HK$9.745 billion, all showing a slight decline in value.
As for the New Territories, there was a significant drop in registration volume due to a lack of support from a large new focus board. Only 209 first-hand private home sales were registered in the New Territories in October, a sharp drop of 46% from 390 in September; the monthly transaction registration amount also plummeted 46% at the same time, involving only HK$2.165 billion, making it the biggest drop among the three regions.
By property classification, “Rui Jing II”, located in Cheung Sha Wan, recorded a total of 335 registrations in October, with a total registered value of HK$3,513 billion, with an average transaction price of HK$10.49 million; followed by 182 cases from “Huangxuan” in North Point and 147 cases from “Qinghai Phase 1” in Yau Tong. In the ranking, the one with the highest average transaction price per transaction was HK$18.17 million for “Shougang Phase 1” in Tokwawan, while HK$5.58 million for “Qianwu” in Yuen Long was the lower average price.
Looking ahead to November, Chen Haichao pointed out that since late October, many developers have continued to actively promote sales, new listings are close to market conditions, rigid market demand continues to be released, and continuous sales response is ideal. It is estimated that more than 1,000 instantaneous market transactions will fall within the November registration numbers. Although instant market transactions have slowed slightly since entering this month, new listings are still being sold. Therefore, it is expected that the number of first-hand private home sales registrations in November will likely record about 1,650 cases. It is expected to rise by about 20% over the previous month, which is expected to challenge the five-month high.