Central Plains Properties: In July, Hong Kong recorded 767 transactions of new private residential properties, a month-on-month decrease of 61.3%, marking an 18-month low.

Yang Mingyi, the senior co-director of the research department at Centaline Property, stated that in July 2026, the total number of building sale and purchase agreements registered (including residential, parking spaces, and commercial properties) was 6,715, with a total value of HKD 51.747 billion, representing a decrease of 28.8% and 37.5%, respectively, compared to June's 9,434 agreements and HKD 82.845 billion. Both the number and value reached an 11-month low since August 2025 when there were 6,462 agreements and HKD 47.775 billion. In the primary residential market, July recorded 767 transactions valued at HKD 15.79 billion, a significant drop of 61.3% and 45.6% compared to June's 1,983 transactions and HKD 29.02 billion. The primary market has seen trading volume decline for three consecutive months, marking the first time in 17 months that it fell below 1,000 transactions. This number is the lowest in 18 months since January 2025, which had 758 transactions, while the amount represents the lowest in 14 months since May 2025 when it reached HKD 14.79 billion. Developers slowed down their launch pace in June, leading to a significant decrease in primary registrations. Yang emphasized that the China Securities Regulatory Commissions stringent crackdown on illegal cross-border investments at the end of May has continuously pressured the Hong Kong stock market, resulting in a heightened wait-and-see atmosphere in the property market, which clearly affected transaction volumes in June. It is noteworthy that the government's acquisition of Tai Po Wong Fuk Court has begun to be registered gradually, thus the overall decline in July was less severe compared to both primary and secondary private residential properties. Furthermore, in the first seven months of this year, the total figures recorded 56,670 transactions and HKD 462.036 billion, reaching 70.2% and 75.2% of the estimated full-year totals for 2025, which are 80,702 transactions and HKD 614.277 billion. It is projected that the total for 2026 will be approximately 88,000 transactions, potentially the highest in five years since the 96,133 transactions in 2021. In July, the overall residential building sales recorded 4,462 transactions valued at HKD 41.891 billion, a decrease of 41.7% and 44.6%, respectively, compared to June's 7,650 transactions and HKD 75.607 billion. The number of transactions is the lowest in 17 months, down from 3,200 transactions in February 2025, while the amount is the lowest in 14 months since May 2025, which was HKD 38.244 billion. Additionally, the figures for the first seven months recorded 45,272 transactions and HKD 40.8767 billion, reaching 72.1% and 78.6% of the total for 2025, namely 62,832 transactions and HKD 51.983 billion. Moreover, in the first seven months, the primary market recorded 13,226 transactions valued at HKD 16.649 billion, accounting for 64.4% and 73.8% of the full-year projections of 20,525 transactions and HKD 22.555 billion for 2025. It is anticipated that the total for 2026 will be about 18,000 transactions, potentially the second highest in seven years since 20,685 transactions in 2019. In July, the newly launched project with the highest number of registrations was Hung Hom Riverside Phase 4, recording 82 transactions and HKD 633 million. The second was Chai Wan Hyde Park Phase 1, with 54 transactions and HKD 508 million. Third was Kai Tak Miami Quay I, with 51 transactions and HKD 529 million. In the secondary private residential market, July recorded 3,374 transactions valued at HKD 26.92 billion, down 37.1% and 42.0% from Junes 5,363 transactions and HKD 46.39 billion. The number of transactions is an 11-month low since August 2025, which recorded 3,285 transactions, and the amount is the lowest in nine months since October 2025 at HKD 26.18 billion. As the stock market softened, buyers adopted a more cautious attitude, leading to a tug-of-war in the secondary market and a decline in transactions. Furthermore, in the first seven months, the secondary market recorded 30,183 transactions and HKD 239.16 billion, achieving 75.8% and 81.9% of the estimated totals for 2025, which are 39,821 transactions and HKD 291.93 billion. It is estimated that the full year of 2026 will see approximately 46,000 transactions, potentially the highest in five years since 51,928 transactions in 2021. Among large residential estates, in July, The Grandeur recorded 36 transactions (totaling HKD 162 million), Mei Foo Sun Chuen had 25 transactions (totaling HKD 199 million), Shatin First City recorded 24 transactions (totaling HKD 118 million), and Taikoo Shing had 22 transactions (totaling HKD 256 million). In July, the total number of registered sale and purchase agreements for overall second-hand public housing (including Home Ownership Scheme, Public Rental Housing, Green Form Subsidised Home Ownership Scheme, and Co-operative Housing) was 1,314, with a total value of HKD 5.15 billion, representing a significant increase of 68.7% and 58.0%, respectively, compared to June's 779 transactions and HKD 3.26 billion. Among these, Tai Po Wong Fuk Court accounted for 788 transactions and HKD 3.02 billion. Excluding the registration of the acquisition of Wong Fuk Court, there would be a month-on-month decline of 32.5% and 34.7%.