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Following the removal of all property cooling measures, the residential market saw a sharp rebound in April, with a total of 8,551 transactions recorded across the primary and secondary markets. This represents a 115% surge from the previous month and marks the highest number of transactions since October 2012, a 11.5-year high.

Meanwhile, Hong Kong’s private home prices have risen for the second consecutive month, reaching the highest level since December last year. In April, prices increased by 0.3% to 308.7, representing a slower rate of growth than in March, when prices rose by 1.8%.

In fact, the residential property price has declined by 0.83% year-to-date……

This publication contains the market performance and forecasts for Macao’s property market for 2024.

This monthly publication contains the property news of Greater Bay Area in China. (The content of this monthly publication is only available in Simplified Chinese.)

Turning to the first quarter of 2024, the market displayed signs of improvement. There was a noteworthy increase in activity, particularly in primary market. A total of 2,869 cases of new home sales were recorded, reflecting a significant quarter-on-quarter increase of 54%. The secondary market recorded 6,954 transactions, indicating a quarter-on-quarter increase of 21%.

In the late February 2024 Fiscal Budget, the government made a significant announcement regarding the removal of all property cooling measures implemented since 2010, in order to revive the flailing housing market. Furthermore, the Hong Kong Monetary Authority relaxed the loan rules for homebuyers, i.e. the suspension of stress tests. These policy adjustments have resulted in the creation of the most favorable market conditions witnessed in the past 14 years.

Despite the notable improvement in market sentiment during the period, Hong Kong residential market continued to face downward pressure on home prices and rental indices. The removal of property cooling measures did contribute to a slight rebound in sales activity, but the overall trend remained negative. The overall home price index further declined……

This quarterly publication contains the latest social and economic statistics of China, as well as a detailed analysis of the residential, office and retail markets. (The content of this quarterly publication is only available in Simplified Chinese.)

This monthly publication contains the property news of Greater Bay Area in China. (The content of this monthly publication is only available in Simplified Chinese.)

In February, only 2,375 transactions were registered for both primary and secondary markets, representing a 32% monthly decrease and reaching to a 4-month low. The market was dampened by the Lunar New Year – a traditional off-season and the wait-and-see attitude towards the 2024-25 Budget speech.

Of these, only 367 cases were specifically for the first-hand residential market in February, indicating a 63% decrease from a month earlier. The significant decline in transactions was due to developers postponing the sale of new projects.

Hong Kong’s private home prices fell for the 10th month in a row last month to the lowest level in nearly seven-and-a-half years since September 2016…..

This publication contains the market outlook and forecasts for Macao’s property market for 2024 (The content of this publication is only available in English.)

The residential market has continued to rally since October of last year. In January 2024, a total of 3,477 cases was registered for both primary and secondary markets, representing a 19% monthly increase. This marks the third consecutive monthly rise and a seven-month high.

Of these, 2,474 cases were specifically for the second-hand market, indicating a 26% increase from a month earlier and a 5-month high. The ongoing strength has been in evidence since the announcement of the easing of the ‘spicy measures’ in the 2023 Policy Address.

In a high-interest-rate environment, investment sentiment in the property market remains subdued. The home price index has fallen for nine consecutive months, resulting in a cumulative drop of 13.5%, marking the longest downturn in more than 20 years. Since reaching its peak in September 2021, the home prices have fallen by 23%……

The Hong Kong residential market continues to experience a slowdown as the high interest rates  persistently weigh on the market. A total of 7,606 cases was recorded in Q4, representing a 17% q-o-q decrease. Among them, the sales of new homes saw a substantial 26% q-o-q decrease to 1,862 while the secondary market saw 5,744 transactions, fell by 14% from Q3.

Housing prices continue to face downward pressure due to the cost of residential buying under high interest rate environment, leading to an increasing demand for rental housing.  Overall home price index fell……