According to Midland's integration of the 'First-Hand Residential Property Sales Information Network' data and market news, the number of first-hand transactions in Hong Kong recorded 4,500 from the start of the fourth quarter until December 23, a significant increase of about 94.1% compared to 2,318 transactions in the third quarter. This marks the second-highest number since the fourth quarter of 2020, only trailing the approximately 4,800 transactions in the early stages of the easing measures in the first quarter of this year. Midland believes that the interest rate cuts that began in September, along with a total reduction of 0.625%, combined with the central government's economic stimulation measures and the introduction of bullish measures for the property market in the policy address mid-October, have driven up the first-hand transaction volume significantly in the fourth quarter. With a noticeable rebound in the first-hand transaction volume in the fourth quarter, the total volume for the year as of December 23 rose to 15,479 transactions, which is approximately 48.4% higher than last year's total of 10,434 transactions and marks a three-year new high. It is noteworthy that this year's number of first-hand transactions is also slightly higher than the average yearly level of about 14,950 transactions over the past decade, exceeding it by approximately 3.5%.