According to Wang Pindi, Director of the Research Department of Hong Kong Real Estate, data from the Land Registry shows that as of this month (up to the 17th), Hong Kong has recorded a total of 2,908 property registrations (including new private residences, second-hand Residences, new public housing, commercial shops, pure parking spaces, and Other non-residential properties), an increase of approximately 16.6% compared to 2,493 registrations in the same period last February.
According to the latest information from the Hong Kong Property Research Division Director Wang Pindi, as per the Land Registry data, as of the 17th of this month, there have been a total of 2,908 property registrations in Hong Kong (including first-hand private residences, second-hand residences, first-hand public housing, industrial and commercial shops, pure parking spaces, and Other non-residential properties), which is an increase of approximately 16.6% compared to 2,493 registrations during the same period in February; if the current registration pace continues, it is expected that the overall property registration volume in Hong Kong in March will rebound from the low level in February to about 5,000 registrations, reversing the declining trend of three consecutive months.
Benefiting from the reduction of property stamp duty from over 3 million Hong Kong dollars to 4 million Hong Kong dollars in the end of February’s budget, as well as the recent positive trend in the Hong Kong stock market, the atmosphere of the property market in March has improved, leading to further increases in transactions for both first-hand and second-hand properties. Therefore, it is expected that the residential property registration volume for April, which mainly reflects the market conditions in March, will show month-on-month growth, continuing to push the overall property registration volume upward.
As for the performance of the registration volumes of various property categories in March, in the residential property sector, first-hand private residences and second-hand residences recorded a total of 2,376 registrations, an increase of approximately 16.9% compared to 2,033 registrations during the same period in February; first-hand public housing recorded 158 registrations, an increase of approximately 33.9% compared to 118 registrations during the same period in February.
In terms of non-residential properties, industrial and commercial shop properties recorded a total of 185 registrations so far this month, an increase of approximately 12.1% compared to 165 registrations during the same period in February; pure parking spaces and Other properties recorded a total of 189 registrations, an increase of approximately 6.8% compared to 177 registrations during the same period in February.
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