HK luxury home sales above HK$50 mln hit record high in first half, Midland says

Hong Kong's luxury property market recorded more than 300 transactions priced above HK$50 million for the first time in the first half of the year, with momentum expected to persist, according to Midland Realty on Tuesday.

The property agency noted that the broader primary residential market recorded around 11,538 transactions during the same period. Among these, Hong Kong Island recorded 1,404 deals, marking its third-highest transaction volume in nearly eight years. 

Meanwhile, the high-end segment on Hong Kong Island saw a significant surge, with new home sales exceeding HK$100 million increased from 16 deals recorded in the same period last year to 62 transactions.

Midland Realty said that it expects this upward momentum to be sustained in the second half of the year driven by robust demand.

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