Hong Kong's Secondary Property Market in 2025: Property Prices Rise by 5%, 34 Estates See Over 100 Transactions!

After three years of adjustment, Hong Kong's secondary property market showed clear signs of recovery in 2025. Specific transaction data reveals relatively stable sales patterns in popular estates, alongside a pronounced trend of entry-level properties dominating the market. The top six estates by transaction volume remained unchanged from last year, with Kingswood Villas in Tin Shui Wai securing the top spot with 452 transactions, cementing its position as the ‘transaction champion’ of Hong Kong's secondary property market in 2025. Notably, however, the estate's average price per square foot stood at HK$8,097, representing a decline of over 2% compared to last year. This divergence in price and volume trends reflects a market still driven primarily by essential demand, with investment purchases remaining relatively restrained.

Policy incentives emerged as the key driver behind entry-level property transactions. Centaline Property analysis indicates that the policy requiring only HK$100 stamp duty for properties under HK$4 million significantly lowered the entry barrier, directly boosting transaction activity for lower-priced properties. Taking Kingswood Villas as an example, 122 transactions this year involved properties priced below HK$4 million, accounting for nearly 30% of total sales. This proportion represents a 15% increase from last year and a ninefold surge compared to the 12 transactions recorded in 2022. A substantial influx of first-time buyers and rational investors capitalising on lower prices has become the core force underpinning transaction volumes.

Beyond Kingswood Villas, other traditional entry-level estates have also benefited from policy dividends, experiencing active trading. City One in Sha Tin recorded 317 transactions this year, with 102 involving properties below HK$4 million qualifying for stamp duty relief – a year-on-year increase exceeding 30%. As popular estates in mature districts, Mei Foo Sun Chuen in Lai Chi Kok and Taikoo Shing in Quarry Bay also maintained steady transaction volumes, recording 389 and 355 transactions respectively this year. Taikoo Shing saw a 3.5% year-on-year increase in transactions, while Mei Foo Sun Chuen remained stable, reflecting relatively balanced market demand across different districts.