Hong Kong's Land Registry reported 8,692 transactions across all property sectors last month, up 12.3% from March. Residential sales reached 7,368 units, the highest in two years. Total sales value rose sharply.
The Land Registry released data on Tuesday showing 8,692 transactions across homes, offices, shops, car parking spots and industrial spaces in April, up 12.3% from March's 7,737 deals. The total sales value rose 17% to about HK$72.9 billion (US$9.3 billion).
Sales of new and second-hand residential units climbed 16.7% month on month to 7,368, the highest since April 2024 when 8,551 units were sold. The residential sales value increased 15.4% over March to HK$63.67 billion.
"The number of new home sales registrations has rebounded significantly, coupled with stable performance in the secondary market and commercial and industrial properties, resulting in a continued boom in the market," said Derek Chan Hoi-chiu, head of research at Ricacorp Properties.
A steady recovery in the city's residential market was spurring a wider recovery for the city's office and retail segments, according to Morgan Stanley.