According to data from the Land Registry compiled by a property consultancy, residential property registrations in Hong Kong reached 7,526 in May. This figure includes primary private sales, secondary private sales, and secondary public housing transactions.

While this represents a slight decrease of approximately 2.6% from the 7,729 registrations recorded in April, it marks the second consecutive month that registrations have remained above the 7,000 level. This performance stands as the second-highest monthly total in over two years, indicating that residential property transaction volumes remain elevated.

The total registered value for May was approximately HK$66.726 billion, showing an increase of about 2.9% from the roughly HK$64.867 billion recorded in April. This registered value represents a new high for the past two years.

It is important to note that there is typically a time lag between the signing of a sale and purchase agreement and its submission for registration at the Land Registry. Therefore, the May registration data primarily reflects market conditions from April.

The stronger performance in registered value compared to volume in May is largely attributed to a significant increase in registrations for properties valued over HK$10 million. Analyzing the monthly change in registration volume by price segment reveals this trend clearly.

Registrations for residential properties priced above HK$10 million reached 1,607 in May, a substantial increase of about 15.9% from the 1,386 registrations in April.

In contrast, registrations for properties priced at HK$10 million or below showed a decline. For units priced between HK$5 million and HK$10 million, registrations totaled 3,318 in May, down approximately 2.6% from 3,408 in April.

Registrations for properties priced at HK$5 million or below fell to 2,601 in May, representing a more significant decrease of about 11.4% from the 2,935 registrations in April.

Regarding the ranking of housing estates by registration volume, The Coast in Hung Hom led with 370 registrations. Pavilia Farm in Tai Wai followed in second place with 310 registrations. The Quayside in Kai Tak ranked third with 247 residential property registrations.