Hong Kong's residential property market is showing clear signs of a rebound, with transaction volumes climbing across both primary and secondary sectors. Centaline Property reported that the city's ten major housing estates recorded 131 transactions in August, marking a month-on-month increase of 27.2%.
According to Louis Chan, Asia-Pacific Vice Chairman and Head of Residential Division at CENTALINE Property, the simultaneous improvement in both new and secondary markets this month confirms that the city's property sector has moved into a recovery phase after a consolidation period in June and July. Chan noted that a series of positive developments emerged this month with no negative headwinds, while the Hong Kong stock market has also remained stable, collectively boosting buyer confidence. With new project launches scheduled for September, Chan anticipates that secondary market transactions across the ten major estates could climb by another 30% next month, fueled by strong momentum from the primary market.
On Hong Kong Island, CHIU Wang Wan, Senior Regional Sales Director at Centaline Property's Taikoo Shing Tung Shan Court branch, reported that transaction activity at Taikoo Shing accelerated this month. The estate recorded approximately 19 sale transactions throughout August, up 18.8% month-on-month — the highest level in three months. The average usable floor area price stood at around HK$17,754 per square foot, roughly flat compared with last month. While the overall transaction sentiment at Taikoo Shing continues to warm and quality listings are being snapped up quickly, owners remain generally firm on pricing, with some deals requiring extended negotiations. Chiu expects the estate's prices to maintain a steady upward trajectory in the near term.
Meanwhile, LO Kuok Ho, Chief Divisional Sales Manager at Centaline Property's South West District Ap Lei Chau Lee Nam Road branch, observed that strong primary market activity in August diverted some attention away from secondary listings. Fortunately, the buyer profiles for both segments differ considerably, so South Horizons' transaction volume was not significantly affected. The estate recorded 11 sale transactions this month, two more than last month, representing a 22.2% increase. The average usable floor area price rose 6.4% month-on-month to HK$16,361 per square foot, reflecting a healthy environment where both prices and volumes are moving upward in tandem.
In the Kowloon district, FUNG Kin Ping, Divisional Sales Manager at Centaline Property's West Kowloon Mei Foo Man's Third Branch, noted that despite the new project market remaining highly active as summer draws to a close and dominating market attention, secondary transactions in the district were not affected by the new development competition. Mei Foo Sun Chuen recorded 15 transactions in August, matching last month's figure and maintaining a stable transaction pace. With solid overall market sentiment, secondary prices in the district are edging upward; the estate's average usable floor area price reached HK$11,642 per square foot, up 7.4% month-on-month, indicating that buyers remain confident about the market outlook. This positive trend is expected to extend into September.
KWAN Ho Ho, Deputy Divisional Sales Manager at Centaline Property's Ocean Shores Second Branch, reported that Metro City ultimately recorded 12 transactions in August, doubling from July's figures. The strong transaction activity was largely attributed to owners who, seeing new developments launched at competitive prices, were willing to adjust their asking prices to attract genuine buyers. The estate's average usable floor area price stood at HK$15,355 per square foot this month, representing a slight 0.5% dip, creating a picture of rising volumes with slightly softening prices. As the new development competition intensifies in September, secondary transactions may face some pressure; however, with owners expected to maintain a more accommodating stance on pricing and overall market sentiment remaining constructive, secondary transactions in the district are expected to climb steadily.
In the New Territories, NG Cheuk Shing, Deputy Divisional Sales Director at Centaline Property's Sha Tin City One branch, stated that the primary market has driven improved sentiment this month, with buyers approaching the market with strong confidence. City One Sha Tin recorded 15 transactions in August, up 25% from the previous month, with average usable floor area prices around HK$13,778 per square foot. Market conditions are expected to continue improving in September, potentially further stimulating secondary transactions. CHEUNG Ki Wai, Divisional Sales Manager at Centaline Property's Tung Chung Ying Pun Second Branch, added that driven by robust new development sales, Ying Pun's transaction activity accelerated this month with 10 deals recorded — doubling from the prior month — at an average usable floor area price of approximately HK$10,486 per square foot. Although secondary owners currently adopt a relatively firm stance on pricing, the substantial pool of unsuccessful bidders from new project launches has redirected many buyers toward the secondary market. Overall buyer confidence remains strong, and the estate's transaction volumes are expected to maintain healthy activity levels in the coming month.