Hong Kong Property Market: Over 700 second-hand residential properties valued over 10 million Hong Kong dollars were registered in March, creating a new high in the past three years.

Wong Ban-tai, Director of the Research Department of Hong Kong Property, stated that according to data from the Land Registry, as of the 24th of this month, over 10 million Hong Kong dollars (HKD) worth of second-hand residential properties have been registered, totaling 594 registrations, an increase of about 17.4% compared to the same period last month; if the current registration trend continues, it is expected that there will be a chance to exceed 700 registrations for the month of March, setting a new high for the past 36 months (3 years). Given the time required from signing the sales contract to the registration at the Land Registry, the registrations in March generally reflect the market conditions in February. Breaking down the registrations of over 10 million HKD worth of second-hand residential properties by the three districts for this month, Hong Kong Island (including Discovery Bay) recorded 206 registrations, an increase of about 6.2% compared to the same period last month; the New Territories recorded 152 registrations, an increase of about 13.3% compared to the same period last month; Kowloon (including Tseung Kwan O and Sai Kung) recorded 236 registrations of over 10 million HKD worth of second-hand residential properties, the highest among the three districts, with an increase of about 32.6% compared to the same period last month, demonstrating the most outstanding performance. In terms of the rankings of residential estates with over 10 million HKD worth of second-hand residential property registrations for this month, the Sun Hung Kai Properties' Providence Bay topped the list with 18 registrations, an increase of about 12.5% compared to the same period last month; The Victoria Skye ranked second with 12 registrations, a bigger increase compared to the 4 registrations from the previous month. It is worth noting that the top 2 residential estates with over 10 million HKD worth of second-hand residential property registrations for this month are both located in Kowloon (including Tseung Kwan O and Sai Kung). One residential estate each in the Hong Kong Island (including Discovery Bay) and the New Territories made it to the top 3 in terms of registrations of over 10 million HKD worth of second-hand residential properties for this month, namely City One and Pak Lao Country Park, with 10 registrations each. Pak Lao Country Park saw a significant increase of over 2.3 times compared to the 3 registrations from the previous month, while City One saw a decrease of about 44.4% compared to the 18 registrations from the previous month.