According to Midland Realty analyst Cen Songqian, data compiled by the Midland Realty Research Centre from the Land Registry, analyzed based on known buyer names, shows that mainland Chinese buyers (identified by the English拼音 of buyer names) registered a total of 13,906 deals in Hong Kong's primary and secondary residential markets in 2025. This figure represents an increase of approximately 14.1% compared to the 12,190 deals recorded in 2024. The total value involved surged to approximately HK$137.9 billion, also rising about 3.8% from the HK$132.8 billion in 2024, setting new record highs for both the number of deals and the total value since records began. Looking ahead to 2026, with multiple favorable factors continuing to take effect, coupled with the perception of Hong Kong as a key base for asset allocation, personal residence, and children's education among mainland professionals and high-net-worth individuals, it is anticipated that both the number of registered deals and the total value from mainland buyers are expected to reach new highs. It is noteworthy that mainland buyers show a particular preference for new development properties. Of the approximately 13,906 residential registration cases in 2025, primary market properties accounted for 6,495 deals, representing about 46.7%. Furthermore, of the total HK$137.9 billion involved last year, primary market transactions amounted to approximately HK$79.5 billion, accounting for a significantly higher proportion of 57.7%. This reflects that nearly half of mainland buyers opt for new developments, with the capital invested approaching 60% of the total amount.