Hong Kong property market: Over 1,000 second-hand residential units registered in July, stabilizing at over 600 transactions.

Wang Pindi, Director of the Research Department of Hong Kong Real Estate, stated that according to the comprehensive data from the Hong Kong Land Registry, as of the 20th of this month, there were 393 second-hand residential properties valued at over 10 million Hong Kong dollars registered, a decrease of approximately 42.3% compared to the same period last month. Based on the current registration progress, it is estimated that there will be over 600 registrations for the whole month of July, similar to the average of around 630 registrations per month over the past year. Due to the time needed from signing the sale and purchase agreement to registration with the Land Registry, the cases registered in July generally reflect the market conditions in June. In terms of the registration of second-hand residential properties valued at over 10 million Hong Kong dollars in the three districts so far this month, Kowloon (including Tseung Kwan O and Sai Kung) registered 172 cases, a decrease of approximately 33.6% compared to the same period last month; Hong Kong Island (including Discovery Bay) registered 142 cases, a decrease of approximately 45.6% compared to the same period last month; and the New Territories registered 79 cases of second-hand residential properties valued at over 10 million Hong Kong dollars, a decrease of approximately 50.9% compared to the same period last month. Regarding the ranking of estates with registrations of second-hand residential properties valued at over 10 million Hong Kong dollars so far this month, The Cullinan topped the list with 12 registrations, a decrease of approximately 7.7% compared to the same period last month; La Costa ranked second with 11 registrations, a decrease of approximately 8.3% compared to the same period last month; and The Pacifica ranked third with 10 registrations of second-hand residential properties valued at over 10 million Hong Kong dollars, an increase of 25% compared to the same period last month.