Hong Kong Property: Second-hand residential property transactions in Hong Kong declined 18% year-on-year in the first 9 months of this year, hitting a 3-year low.

According to the information obtained from the Wise Finance APP, the Director of the Real Estate Research Department of Hong Kong stated that according to the data from the Land Registry, a total of 32,571 second-hand residential properties (including private and public housing) were registered in the first 9 months of this year (up to September 23), an increase of approximately 9.4% compared to the same period last year with 29,759 registrations. Among them, a total of 3,676 registrations for second-hand public housing were recorded in the first 9 months of this year (up to September 23), a decrease of approximately 18.3% compared to the same period last year with 4,497 registrations, reaching a new low for the same period in 3 years (see chart), showing a significant underperformance in the market.