Media365
Mainland buyers are playing an increasingly prominent role in Hong Kong’s housing market rebound, supported by a stronger yuan, rising rents and an influx of new arrivals shifting from tenants to homeowners.
Transactions involving mainland buyers rose 53 per cent year on year to 3,882 units across the primary and secondary markets in the first quarter, according to Midland Realty, citing Land Registry data.
The value of those purchases jumped 93 per cent to HK$42.7 billion (US$5.5 billion).
The figures are based on the use of Putonghua pinyin names in official records, though some buyers may hold Hong Kong permanent residency.
They also showed a clear preference for higher-value properties. Spending on new homes reached HK$24.7 billion, about 36.7 per cent more than in the secondary market, representing roughly 35 per cent of total primary sales by value.
The surge has coincided with a broader pickup in developer activity. Primary transactions climbed to 6,284 units in the quarter, the highest level for the period in more than a decade, as pent-up demand flowed back into the market. By value, new-home sales rose 21 per cent quarter on quarter to HK$70.8 billion, underscoring firm buying momentum.
“A stronger yuan, alongside recovering home prices and relatively attractive rental yields, has supported buying interest,” said Midland analyst Benny Sham.
