The residential real estate market in Hong Kong experienced a notable rebound in February, with a total of 12,338 transactions recorded, supported by active demand in both the primary and secondary sectors, according to a report by Knight Frank.
The company highlighted that primary sales surged to 4,109 units, marking a 146.3% growth year-to-date and surpassing the figures recorded in 2024. Secondary transactions also rose to 8,229 units, reflecting a 59.5% increase since the start of the year, indicating broadly positive momentum across the market.
The report emphasized the “Central Residence by the Park” project as one of the prominent new developments, where 61 out of 99 available units were sold, representing a 62% sell-through rate with an average price of HKD 46,800 per square foot.
Regarding the luxury property sector, the company noted a limited impact from the government’s recent decision to raise stamp duty on properties valued over HKD 100 million from 4.25% to 6.5%.
Knight Frank explained that high-net-worth buyers are often less affected by such changes, and market activity remained robust. In February, 68 transactions exceeded HKD 50 million each, representing a 48% increase month-on-month, based on market data.
As for the rental sector, demand remained strong, particularly in areas close to major universities. Knight Frank identified locations such as Central & Western, Sha Tin, Tai Wai, and Fo Tan as key rental hotspots due to high demand from non-local students and the ongoing shortage of dedicated student housing. This situation continues to attract investors seeking stable rental yields.
