Valuer Insights

Hong Kong Residential Insights March 2025

By Valuation & Advisory Services

April 17, 2025

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In this report, we look into Hong Kong residential property market for March 2025.

Snapshot

  1. Transaction volume rebounded as government reduced stamp duty for properties valued up to HK$4 million
    Following the seasonal adjustments from the Christmas and Chinese New Year holidays, transaction volume has rebounded from its previous low over the past three months. In March, transaction volume for properties valued up to HK$4 million increased by 68.8% y-o-y (or 32.9% m-o-m) to 1,534 units. The government’s initiative to reduce stamp duty to HK$100 for properties valued up to HK$4 million is beginning to stimulate demand in this price segment.

  2. Primary sales surged in March as developers pushed more units for sale after budget announcement
    A total of 2,229 units were offloaded by developers in March 2025, larger than the sum of preceding two months, according to data from Land Registry. With developers pushing their units for sales, primary sales took over substantial market share from secondary market, representing 41.5% of residential sales during the month. 

  3. Residential rent resumed its upward trajectory
    In Q4 2024, residential rent softened a bit as school semester reopened in September 2024. The sector experienced temporary slowed down in demand from non-local students seeking for accommodation. However, with increased economic activities in cities, such as IPOs, more incoming talents are moving into the city after the Chinese New Year, leading to a rise in residential rental prices. In February 2025, residential rent increased by 0.3% m-o-m, up for three consecutive months.

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