The Land Registry released the statistics for November this year yesterday (3rd), with a total of 6,298 residential property sale and purchase agreements within the month, up by 34.1% monthly and 146.6% annually.

Kelvin Ko, Executive Director of Valuation and Advisory Services at CBRE Group Hong Kong, stated that the volume of first-hand and second-hand residential properties in Hong Kong has already surpassed that of 2023 so far this year. The further reduction in mortgage rates has also prompted continuous influx of buyers into the residential property market.

Kelvin Ko expects that developers will continue to sell existing inventory, with more new projects expected to be launched by 2025. Additionally, due to increased holidays towards the end of the year, including Christmas and upcoming Lunar New Year, the transaction volume in the next two months is expected to soften.

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