The private residential property market in Hong Kong has started the year on a strong note, characterized by active transactions and steadily increasing prices. According to the latest data from the Hong Kong Rating and Valuation Department, the private domestic price index reached 312.8 points in March, marking a month-on-month increase of approximately 1.4%. This represents the tenth consecutive month of growth, reaching a 28-month high. Year-to-date, property prices have risen by about 4.4%.

Transaction activity remains vigorous. In the primary market, data compiled from the Residential Property Sales Information website and market sources indicate that transactions in the first 27 days of April exceeded 2,000 units. This marks the fifteenth consecutive month with over 1,000 transactions, underscoring sustained momentum in new home sales. In the first four months of the year, primary market transactions have surpassed 8,300 units, accounting for more than 40% of the approximately 20,000 transactions recorded for the entirety of last year. It is estimated that full-year primary market transactions could challenge the post-sales ordinance high of 22,000 units.

In the secondary market, figures from frontline branches show that over the 17-week period from December 29, 2025, to April 26, 2026, the 20 largest housing estates in Hong Kong recorded a total of 806 secondary transactions. This translates to an average of about 47 transactions per week, nearly 20% higher than last year's weekly average of around 40 transactions. This indicates that despite market focus remaining on the primary segment, secondary market activity has also improved compared to the previous year.

Additionally, the Hong Kong Property Report 2026 released by the Rating and Valuation Department last week indicated that the completion of private residential units declined from a peak of 24,260 units in 2024 to 18,450 units in 2025. A continued decline is projected over the next two years, with completions expected to fall to 15,360 units by 2027—a drop of more than 35% from the 2024 peak. With an anticipated ongoing reduction in new supply and sustained robust transaction activity in the residential market, these factors are expected to provide positive support for property prices.