Hong Kong Real Estate Market Analysis - December 2024

Hong Kong MoM Sales Transaction Analysis - November vs October 2024

Transaction Volume

Hong Kong recorded over 7,400 transactions (all sectors) during November 2024, a significant increase MoM again of over 30% compared to October 2024. The increase in volume was mainly driven by the transaction volume of residential units, which increased by 39.1% MoM.

Commercial transactions increased by 47.8 MoM, with the number of industrial transactions in particular increasing by over 60% from 113 to 182 transactions.

Transaction Value

Transactions by total value also recorded a significant increase of 47.9% MoM, up to HK$63.0 billion (all units) in November. Total transaction value for Residential recorded an increase of over 62% MoM and for Commercial an increase of 98.0% MoM.

In line with the increase in the number of transactions, the total value of Industrial sales increased by over 134% to HK$1.3 billion. However, Commercial transactions are still recovering from a low base. Despite the drop in volume in the number of transactions, of -7.7% MoM, the total value of transactions rose by 67.8%.

Source: Hong Kong Land Registry & REA analysis.

Note 1: Analysis is based on transaction Completion Date (ASP) and REA filtered transactions.

Note 2: Figures quoted for October 2024 may differ to previous publications due to an update in REA transaction nature classifications.

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