According to Ricky Wong, Managing Director of Rica Surveyors (Commercial & Industrial), the strong sales of new office projects and the resurgence of shop registrations above 100 units were insufficient to offset the decline in industrial property transactions from their peak, leading to a slight retreat in overall commercial and industrial property registrations in July.

Preliminary provisional figures from the Land Registry show that Hong Kong recorded 484 commercial and industrial property registration transactions in July 2026, a 7.5% decrease from June's 523 transactions, ending a five-month consecutive growth streak. However, this figure still represents the second-highest monthly total for the year. The total registration value for the month reached HK$5.801 billion, a 22.4% increase month-on-month, marking the third-highest level in 2024, driven primarily by a higher number of mid-to-high-end office registrations.

In July, registration volumes across the three major property categories showed a mixed performance, with two categories rising and one falling. The office sector led with a nearly 30% surge in registrations, while shop and industrial property registrations increased by 15.1% and decreased by 26.3%, respectively.

Focus on Industrial Property

Chu Leung Hang, Senior Director of the Industrial Department at Rica Surveyors (Commercial & Industrial), noted that after a strong first-half surge, industrial property transactions finally saw a correction in the first month of the second half of the year. Data shows that industrial property registrations in July totaled 235 cases, down 26.3% month-on-month, hitting a three-month low and making it the only category to decline in the market. The share of industrial property in total registrations fell to 48.6% in July, down 12.2 percentage points from 60.8% in June. The total value of industrial property registrations in July was HK$1.301 billion, a 4.1% decline month-on-month, yet still the third-highest level for the year. The average value per industrial property transaction for the month was approximately HK$5.536 million.

Office Sector Performance

Mr. Wong commented that office registration volumes have now exceeded 100 cases for two consecutive months, with July's figure reaching a new high not seen in 66 months (or five and a half years) since February 2021. In July, total office registration transactions reached 142 cases, a significant 27.9% jump from June's 111 cases, largely driven by the strong sales of about 43 units from the new project on Wing Hong Street, 83. The total registration value for the month correspondingly surged 38.2%, rising for two consecutive months and reaching a three-month high of HK$3.128 billion, placing it as the third-highest level for the year.

Shop Market Trends

Katherine Cheng, Senior Director of the Shop, Commercial, and Investment Department at Rica Surveyors (Commercial & Industrial), pointed out that after a slight pause in the previous month, shop registration transactions regained upward momentum at the start of the second half of the year. Data indicates that, spurred by continued growth in Hong Kong's local retail sales, shop registrations in July totaled 107 cases, up 15.1% month-on-month, returning to the 100-case level and marking the fourth-highest monthly total for the year. Additionally, the total value of shop registrations for the month rose 22.8% to HK$1.372 billion, the second-highest level for the year.