Zhongyuan Real Estate: Hong Kong's overall property sales contract is expected to reach a record high of 8,300 in December, a record high of nearly 20 months

Zhitong Finance App learned that Yang Mingyi, senior co-director of the Central Plains Real Estate Research Department, pointed out that as of December 19, Hong Kong's overall property sales contract registrations (including residential, parking spaces and commercial properties) were temporarily recorded in December 2025, with a total value of HK$47.407 billion. It is estimated that the total number of cases for the month will be approximately 8300 and HK$62 billion, up 16.6% and 6.1% respectively from 7,121 cases and HK$58.429 billion in November. The number of cases will reach a new high of nearly 20 months after April 2024, and the amount will reach a new high of nearly 6 months after June of this year.

Active sales registration showed that after two interest rate cuts, the atmosphere in the property market improved, and property prices rose steadily, boosting buyers' confidence in entering the market. During November, developers sold parking spaces in Taikoo Shing, and the Housing Association began picking buildings. Buyers of the new phase of Baiju 2 also entered the market one after another, stimulating the number of registrations to rise above the level of 8,000 units.

The total number of registered cases in 2025 was 78,099 and HK$596.638 billion, up 14.9% and 11.7% respectively from 67,979 cases and HK$534.140 billion in 2024. The forecast for the full year is about 80,000 cases and HK$611 billion, which will increase by nearly 20% and nearly one-half year on year, hitting a four-year high of 96,133 cases in 2021 and HK$917.838 billion.

In terms of first-hand private housing, as of December 19, 1,365 cases and HK$15.13 billion were temporarily recorded in December. It is estimated that the full month will be about 1,700 cases and HK$20 billion, down 6.2% and 12.7% respectively from 1,813 cases and HK$22.91 billion in November. Although first-hand trading has declined, it has been over 1500 for 10 consecutive months, the first time since more than 21 years (261 months) after March 2004. It shows that the new listings are very popular with users and investors, and are selling well.

In addition, 20,159 cases and HK$220.06 billion were temporarily recorded this year, which is 19.5% and 5.6% higher, respectively, compared with 16,869 cases and HK$208.47 billion in 2024. It is predicted that there will be about 20,500 first-hand cases and HK$225 billion for the whole year, an increase of more than 20% and nearly 10% over the same period last year. The number of cases hit a six-year high after 20,685 cases in 2019, and the amount hit a four-year high after HK$236.79 billion in 2021.

The new property with the highest number of temporary registrations in December was Fanling Juran (Home), which temporarily recorded 332 cases and HK$1,344 billion. The second was Park King Peak in Yau Tong. 149 cases and HK$835 million were recorded. The third was Kwun Tong Chun Yin (home), which temporarily recorded 137 cases and HK$690 million. The fourth was Kai Tak Bay Phase 1, which recorded 125 cases and HK$869 million. The fifth was Kai Tak Sky Phase 2, which recorded 108 cases and HK$1,442 billion.

In terms of second-hand private housing, as of December 19, 2,820 second-hand cases and HK$22.10 billion were recorded in December. It is estimated that the full month will be about 3,800 cases and HK$30 billion, up 7.0% and 7.3% respectively from 3,553 cases and HK$27.95 billion in November. The number of cases will be at an 8-month high after April this year, and the amount will be a 20-month high after April 2024. Buyers' willingness to enter the market is strong, and second-hand transactions are active, stabilizing more than 3,000 for 9 consecutive months, which has been around 4 years (48 months) since December 2021.

Additionally, 38,695 second-hand cases and HK$283.70 billion were recorded this year, which is 14.5% and 17.1% higher than the 33,792 cases and HK$242.30 billion in 2024. It is estimated that around 39,700 second-hand cases and HK$291.5 billion will increase by nearly 20% and more than 20% year-on-year, hitting a four-year high of 51,928 cases in 2021 and HK$475.0 billion.

In terms of large-scale housing estates, 28 cases were temporarily recorded in Mei Foo Sun Chuen in December, 27 cases at Kingswood Villas (total HK$127 million), 24 cases in Shatin First Town (total HK$105 million), and 17 cases in Taikoo Shing (total HK$165 million).