Hong Kong Real Estate: Hong Kong's cumulative cargo volume rebounded 6.6% month-on-month in July and is still about 22% less than last year's high

The Zhitong Finance App learned that according to data from the Hong Kong Real Estate Data Research Department, the cumulative total volume of goods (including buildings and existing buildings) in Hong Kong at the end of July recently recorded about 17,965 units, an increase of about 6.6% over the 16,850 units in June, a record high this year; however, compared with the high level of about 23,121 units in January last year, there were still about 5,156 fewer units, a decrease of 22.3%.

Wang Pindi, director of the Hong Kong Real Estate Research Department, said that due to earlier adjustments in Hong Kong stocks and the fact that trading has continued to be active for quite some time, the Hong Kong property market needs to accumulate purchasing power again, slowing down the pace of first-hand trading in recent months. According to the Hong Kong Real Estate Research Department's “First-Hand Residential Property Sales Information Network” and market news, the new property market recorded less than 1,000 units for two consecutive months.

However, as the Hang Seng Index recovered from a low level in July, the market atmosphere gradually improved, and developers also accelerated the pace of promotion. Driven by this, first-hand transactions clearly rebounded from only 194 in the first half of July to 615 in the second half of July, an increase of more than 2.1 times, reflecting a recovery in new market performance. However, in July, a large new market was launched, making it difficult for units to be fully absorbed by the market in real time, leading to a month-on-month recovery in cargo volume.

If the cumulative cargo volume in July is divided into three regions and the high level of January last year, the cumulative cargo volume in the New Territories decreased by about 1,783 units from about 6,602 units in January last year to about 4,819 units in July this year, the most significant decrease in the three regions; the cumulative cargo volume of the Kowloon region (including Tseung Kwan O and Sai Kung) decreased by about 2,928 units from about 12,993 units in January last year. As of July this year, the number of units reduced by 22.5% was the largest in the three regions; while Hong Kong Island (including Hong Kong Island) (Discovery Bay) Cumulative cargo volume increased from January last year to about 3,526 units The number of units decreased by about 445, to about 3,081 units in July this year, a decrease of about 12.6%.