Sales of luxury homes in Hong Kong surged 156% in the first quarter, driven by stock-market gains and attractive prices, real estate agents say. Mainland Chinese buyers accounted for more than half of the deals. The segment is likely to see another increase in the second quarter.
In the first three months of the year, 64 homes worth more than HK$100 million (US$12.8 million) were sold in Hong Kong, 156% higher than the 25 transactions a year earlier, according to data compiled by CBRE. The total value of these transactions more than doubled to about HK$11.7 billion from HK$5.43 billion in the first quarter of 2025.
Savills tracked 58 luxury-home transactions in the period, with 18 acquired by verified mainland buyers. Another 33 buyers were of unknown nationality, leading the consultancy to estimate that mainland residents accounted for more than half of the upscale home deals.
“With the wealth effect from accumulated gains in the stock market over the past two years, both local and mainland Chinese capital have seized the opportunity to redeploy assets from stocks to properties,” said Derek Chan Hoi-chiu, head of research at Ricacorp Properties.
Affluent Hongkongers also splurged on luxury properties. Lisa Kan Chin Chin, manager of Hong Kong singer and actor Eason Chan, bought a 3,627 sq ft flat at The Corniche in Ap Lei Chau for about HK$141 million on March 27, official records show. Agents say stock-market gains and attractive prices will continue to lure wealthy buyers including mainland Chinese investors.