Hong Kong real estate market: February transactions hit second highest in 22 months, with 310 new units sold in a single day in March

1、 Record breaking transactions in February: 7924, second highest in 22 months, with first hand transactions breaking 1000 for 13 consecutive months

According to data from the Hong Kong Land Registry, there were a total of 7924 building purchase and sale contracts in Hong Kong in February 2026, an increase of 3.8% month on month and a significant increase of 84.0% year-on-year. This is the second highest in 22 months since April 2024 and only lower than the 8999 contracts in December 2025. Among them, there were 6669 residential purchase and sale contracts, with a month on month increase of 17.6% and a year-on-year increase of 108.4%, becoming the core driving force behind the overall transaction volume.

More noteworthy is the outstanding performance of the first-hand private residential market, with 2557 registered cases in February, a month on month surge of 66.6%, not only setting a new 22 month high, but also achieving a rare record of breaking 1000 transactions in a single month for 13 consecutive months. This sustained strong performance fully reflects the market's high recognition and strong demand for first-hand new properties, and also marks that the Hong Kong real estate market has shifted from a temporary recovery to a comprehensive recovery.

2、 March New Sales' Double Cannon ': 310 sets sold wildly in a single day, with the core area and essential demand stocks simultaneously booming

On March 15th, the Hong Kong real estate market saw two major focus new properties go on sale on the same day, creating a hot scene of "dual properties flying together". A total of 310 units were sold in a single day, pushing the market heat to a new peak.

1. Tsim Sha Tsui Yuyi: Core area luxury residential properties, 160 units sold out on the same day

The Yuyi project located in the core area of Tsim Sha Tsui will launch 160 units in the first round, covering open plan to two bedroom layouts, with an entrance fee of HKD 5.3335 million. The project has attracted a large number of investors due to its superior geographical location, convenient transportation (adjacent to MTR and high-speed rail stations), and stable rental returns. On the day of the sale, all units were sold out, with large buyers becoming the absolute main force. 11 groups of buyers purchased 7 sets or more, and the largest buyer spent over HKD 73 million to scan 12 sets in a row. The proportion of investment customers was as high as about 70%.

2. Upstream cloud direction: New Territories urgently needs to sell 200 sets, with over 70% reduction in waste

On the same day, Yongtai Real Estate's Yunxiang project located in Sheung Shui launched 200 units with a practical area of 286 to 445 square feet, priced at HKD 3.683 million to HKD 7.758 million in real terms, targeting first-time and boarding customers. As of 5:30 pm on the same day, about 150 sets have been sold, with a turnover rate of over 75%. The project has also attracted the attention of investors from outside the region. A buyer from the southern district spent over HKD 28 million to purchase six units, demonstrating the market's high recognition of the potential of the New Territories sector.

3、 Behind the heat: multiple positive factors combined, mainland funds become the core engine

The sustained popularity of the Hong Kong property market is not accidental, but the result of multiple favorable factors resonating. At the policy level, by 2024, Hong Kong will comprehensively "withdraw" and cancel the additional stamp duty for mainland buyers, significantly reducing the cost of home ownership. On the economic level, the normalization of customs clearance between the two places and the favorable exchange rate of RMB against Hong Kong dollar have further stimulated the inflow of funds from the mainland.

From the perspective of buyer structure, mainland buyers have become the core force driving the market. Data shows that in February, mainland buyers registered 1365 cases in the Hong Kong primary and secondary residential market, with a total amount of approximately HKD 15.58 billion. The number of cases increased by 10.4% month on month, and the amount increased by 23.1%. Moreover, the number of transactions has exceeded 1000 for 12 consecutive months, and the amount has exceeded 10 billion for 9 consecutive months. In the high-end market, mainland buyers dominate, accounting for nearly 70% of luxury home transactions worth over HKD 50 million.