A large number of middle-class investors are bottom-fishing in the Hong Kong property market, outperforming the stock market.

While the property market in the mainland is still slowly recovering, a large number of middle-class and above individuals have already raised funds to bottom-fish in the Hong Kong property market, causing a frenzy of buying luxury homes in Hong Kong. According to data from the research department of Hong Kong's Centaline Property, in the first half of 2026, there were 2,372 registrations for second-hand private residential properties with a total price of over 20 million Hong Kong dollars, totaling 111.318 billion Hong Kong dollars. The registered amount reached a new high for a half-year period since the second half of 1995. After hitting bottom last year, the Hong Kong property market has attracted many buyers to take advantage of the low prices. The trend of property prices is in sharp contrast to the weak performance of the Hong Kong stock market, with many housing estates raising prices while the market is hot. The leading indicator of the property market is undoubtedly Taikoo Shing. According to data from Centaline Property, the prices in Taikoo Shing rebounded significantly in the first half of this year, with the average price per square foot rising from a low of 14,912 Hong Kong dollars at the end of last year to 18,391 Hong Kong dollars in June this year, a 23% increase in six months. Compared with the low point of around 13,760 Hong Kong dollars per square foot in June 2025, the cumulative increase over the past year is even more significant at 33%. In the first half of this year, the Centaline City Leading Index (CCL) in Hong Kong has accumulated an increase of 10.98%, the largest increase in eight years at the same time, outperforming even the US S&P 500 Index. In comparison, the Hang Seng Index recorded a decline of 10.7% during the same period.