Property sales dropped 12.8% MoM in February

Experts say sales volume will likely rebound in the coming months.

Property sales dropped 12.8% month-on-month (MoM) to 4,307 transactions in February, the Land Registry reported.

The total consideration dropped 23% MoM to $28.3b.

Of the transactions, 3,200 were for residential units, dropping 11.7% MoM, with a total consideration of $23b, down 13.9% MoM.

Year-on-year, property sales rose 35.1% and total consideration increased 25.3%. For residential units, sales volume increased 34.7% with the total consideration rising 20.5%.

“Despite a drop in February 2025, transaction volume will likely rebound in the coming few months, especially smaller lump sum units less than $4m. Government’s initiative to reduce stamp duty to $100 for properties valued up to $4m likely spurs more demand for this price range,” Eddie Kwok, executive director for Valuation & Advisory Services at CBRE Hong Kong said.

“Demand likely comes from end-users who took a wait-and-see approach previously, especially newly married couples, considering the residential price is relatively more affordable as it dropped by 27.8% from its peak,” Kwok added.

There were 338,037 land register searches last month.