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In November, the number of residential building sale contracts in "Hong Kong Property" increased by 34.1% month-on-month. CBRE Group expects the transaction volume to soften in the next two months.
The Land Registry published the statistics for November this year yesterday (3rd), showing that residential property sale contracts totaled 6,298, up 34.1% month-on-month and up 146.6% year-on-year. Guo Wei'en, Executive Director of Valuation and Consulting Services Department of cbre group Hong Kong, stated that so far this year, both new and second-hand residential volume in Hong Kong has exceeded that of 2023. Furthermore, the further reduction in mortgage rates has also encouraged buyers to continue pouring into the residential property market. Guo Wei'en anticipates that developers will continue to sell existing inventory and will not launch more new projects until 2025. Additionally, as the year-end approaches, there are more holidays, including the Christmas holiday.
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