Lijia Pavilion: In July, Hong Kong recorded 731 transactions of primary private residential property sales, a decrease of 62% compared to the previous month.

According to the Zhitong Finance APP, Chen Haichao, the head of the real estate research department at Ricacorp Properties, stated that comprehensive data from the Land Registry shows that in July, Hong Kong recorded a total of 731 transactions of primary residential properties, with a total value of HKD 15.71 billion. This marks a decrease of 62% in volume and 45% in value compared to June's 1,923 transactions and HKD 28.78 billion. The volume has significantly dropped below the 1,000 mark, ending a 16-month streak of exceeding 1,000 transactions, which was the second strongest in history. In comparison, the longest streak of consecutive transactions over 1,000 was from November 2001 to March 2005, lasting 41 months. The market is expected to consolidate before gradually warming up again.