Property sales jump 54.7% MoM in March

The total consideration also increased 61.4% MoM to $45.6b.

Property sales jumped by 54.7% month-on-month (MoM) to 6,661 transactions in March, the Land Registry reported.

The total consideration also increased 61.4% MoM to $45.6b.

Of the transactions, 3,626 were for residential units, growing 13.3% MoM, with a total consideration of $38.8b, up 68.6% MoM.

“Following the seasonal adjustments..., transaction volume has rebounded from its previous low over the past three months. The government’s initiative to reduce stamp duty to $100 for properties valued up to $4m is beginning to stimulate demand,” Eddie Kwok, executive director for Valuation & Advisory Services at CBRE Hong Kong, said.

“We project that this segment will capture approximately 30% market share in 2025, reverting to levels last seen in 2016,” Kwok added.