According to an analysis by the property research center, the Hong Kong real estate market experienced robust activity in the first quarter of this year, with the primary market performing notably well. Both transaction volume and value recorded significant increases. Data compiled from the Primary Residential Properties Sales Portal and market information indicates that primary market transactions in Hong Kong reached 6,284 deals in the first quarter, a sharp increase of approximately 29.1% quarter-over-quarter, marking the highest level since the third quarter of 2016. Fundraising performance in new developments was equally strong, with total transaction value hitting HKD 70.8 billion, up about 21.2% from the previous quarter. This not only surpassed the previous high of approximately HKD 68 billion recorded in the first quarter of 2017 but also represented the first time quarterly transactions have exceeded HKD 70 billion since the implementation of primary sales regulations in 2013.

The market for ultra-luxury primary residences priced over HKD 100 million has become a key focus for wealthy investors, with trading activity remaining strong. After setting a quarterly record of 44 transactions in the fourth quarter of last year, the number of ultra-luxury primary home deals reached 48 in the first quarter, setting yet another new quarterly high. This figure represents about 47.5% of the total 101 transactions recorded for the entire previous year. Against the backdrop of rising geopolitical risks, some capital is gradually reducing reliance on single markets and seeking intermediary platforms with institutional stability, mature financial systems, and close integration with international capital markets. Hong Kong, as a crucial hub between mainland China and global markets, leverages its unique advantages under the "one country, two systems" framework, positioning itself as an ideal location for both "safe-haven" and "risk-diversification" asset allocation.

Registration figures from the Hong Kong Land Registry also reflect active trading in the overall property market, including both residential and non-residential segments. Data compiled from the Land Registry shows that overall property registrations—covering primary private residential units, secondary homes, primary public housing, industrial and commercial spaces, parking spaces, and others—totaled 23,271 in the first quarter. This represents a slight decrease of 0.2% compared to the 23,310 registrations in the fourth quarter of last year, indicating stable quarterly performance. However, compared to the first quarter of last year, which saw 15,906 registrations, the current figure reflects a substantial year-over-year increase of approximately 46.3%. When comparing first-quarter performances annually, this year's result is the highest in thirteen years, since 2013. It should be noted that there is typically a time lag between the signing of sale agreements and their registration with the Land Registry, meaning that monthly registration data generally reflects market conditions from the previous month.

The sharp year-over-year increase in overall property registrations was primarily driven by the residential market. Excluding primary public housing, combined registrations for primary private residential units and secondary homes totaled 19,937 in the first quarter, a significant increase of about 54.3% compared to the 12,922 registrations in the same period last year. In the non-residential sector, combined registrations for industrial buildings, commercial offices, and retail shops reached 1,154, up approximately 8% from the 1,069 registrations recorded in the first quarter of last year. Both residential and industrial/commercial property markets demonstrated positive year-over-year performance.