Midland expects the transaction volume of second-hand residential properties in the first half of the year to increase by 2% year-on-year

Data shows that in the first two weeks of June (from the 2nd to the 15th), 35 second-hand housing estates recorded 166 transactions, an increase of about 22.1% compared to 136 transactions in the first two weeks of last month, reflecting that the second-hand market is also quite active. Louis Lau, Chief Analyst at Midland Realty, pointed out that with the improvement in second-hand transaction performance in June, it is estimated that the transaction volume of second-hand residential properties in the first half of this year is expected to reach 22,000, which is slightly higher than last year's 21,571, an increase of about 2%. This will also create a new high in the past three and a half years since the second half of 2021.

As for the latest week's second-hand market situation, the atmosphere in the property market continues to improve under the low interest rates and the easing of the tariff war. However, due to the launch of new developments in the Hong Kong Island area capturing some market attention, second-hand transactions slightly declined from the high level on a weekly basis. According to comprehensive data from Midland, the 35 major housing estates across Hong Kong recorded a total of 79 transactions in the past week (from the 9th to the 15th), a decrease of about 9.2% compared to the previous week's 87 transactions, but still the second-highest level in nearly 11 weeks, and about 31.7% higher than the average of about 60 transactions per week this year.

If we categorize the 35 estates into three districts, the transaction trends vary across the districts. In the Hong Kong Island area, where new developments had their first round of sales last weekend, the volume of second-hand transactions decreased, with 15 transactions recorded in 8 estates last week, a decline of about 42.3% from the high level. In the Kowloon area, 10 estates recorded 23 transactions last week, maintaining the same number as the previous week. In the New Territories, transactions increased on a weekly basis, with 41 transactions recorded in 17 estates last week, an increase of about 7.9%