Weekend Hong Kong property market transaction summary: first-hand transactions fell by more than 30%

In terms of the primary market, there has been a significant decline in trading volume, and the overall performance is not as good as last week. According to statistics, over the past weekend, the primary market in Hong Kong recorded about 287 transactions, a significant decrease of about 33.6% compared to last week's 432 transactions. The decline in transaction volume is closely related to the rising market wait-and-see sentiment before the Lunar New Year and the slowing down of buyers' willingness to enter the market. Most homebuyers choose to hold their money and wait until after the holiday before making property decisions. Despite a significant decrease in overall trading volume, the performance of new properties in the market remains stable, with sales of the 2B phase of the Xisha SIERRA SEA under Sun Hung Kai Properties remaining stable, becoming a core force supporting the primary market. It is reported that the project consists of 775 units of 2 to 4 bedrooms, with a practical area ranging from 378 to 817 square feet. It is expected to be completed in February 2027, and with a reasonable product positioning and stable promotion pace, it has successfully attracted buyers in the light market. In addition, multiple tail end projects have also recorded transactions, including Hyde Park, the Pak Oi Sum series, Kai Tak Bay, and Pak King Fung. Among them, Pak Oi Sum is located at 2 Shing King Street, Kai Tak, Kowloon, adjacent to Victoria Harbour, with outstanding landscape advantages. Kai Tak Bay is located in the Kai Tak runway area, with convenient transportation. The sporadic transactions of these tail end projects effectively maintain the basic heat of the primary market and avoid excessive sluggishness in trading.

In sharp contrast to the primary market, the trading atmosphere in the secondary market remains sluggish, with buying and selling in a clearly deadlocked state. According to statistics from the four major real estate agents, the transaction volume of the top ten blue chip housing estates over the weekend has all fallen to the number of units, with only 8 to 9 transactions recorded overall. The weekly decline ranges from 33% to nearly 60%, which is significant and reflects the current sluggish situation in the second-hand market. From market feedback, second-hand property owners are generally unwilling to significantly reduce prices and offer discounts, with relatively firm pricing. Buyers, on the other hand, maintain a cautious attitude and lack enthusiasm to enter the market. The game between supply and demand continues to intensify, making it difficult to increase the volume of second-hand transactions. Most blue chip housing estates can only maintain sporadic transactions, and some estates even have zero transactions, forming a strong contrast with the performance of the primary market, which has fallen but still has support.