Hong Kong’s residential property market closed 2025 on a strong note, with transactions climbing to a six-month high in December, fuelled by demand for low-priced units even as values fell.
A total of 5,883 deals were completed last month, up 5.3 per cent month on month and an increase of 43.4 per cent year on year, according to Land Registry data released on Monday.
Overall deal value reached HK$51.2 billion (US$6.6 billion), a decline of nearly 1 per cent from November, but 57.3 per cent higher from a year earlier, signalling a market that is still dominated by smaller, lower-priced homes.
Last month’s volume was the best since 5,955 deals were completed in June, capping a steady pickup that began in the second quarter after the government cut stamp duties.
“The surge was driven mainly by a sharp rise in registrations for subsidised housing projects, which pushed transactions to a multi-month high,” said Derek Chan, head of research at Ricacorp Properties. “The market is likely to take a breather before moving higher again.”
Activity in the new-homes segment softened for a second month, slipping to a seven-month low. First-hand private home registrations fell 5 per cent month on month to 1,690 in December, while their value slumped 11 per cent to HK$20.4 billion, though it remained above HK$20 billion for a fourth consecutive month.
