Centaline Property forecasts a total of around 900 luxury home transactions for the year, potentially reaching a six-year high since 2021, seeing strong performance in the market for the first six months of this year.
The luxury property market saw 502 private residential property sales valued at HK$50 million or more, according to Centaline.
The transactions totaled HK$52.72 billion, a 24.9 percent and 25.5 percent leap respectively from the previous six months, according to Roen Ming Yee Yeung, senior associate director of the research department at Centaline.
The Peak and Southern District saw 33 transactions of new luxury homes, totaling HK$6 billion. Compared to 19 transactions and HK$1.74 billion in the same period last year, this represents a soar of 73.7 percent and 244.4 percent respectively, according to Louis Ho Siu-tong, senior principal sales director, peak and south section & Greater China Region luxury properties at Centaline.
50 transactions exceeding HK$100 million were recorded in the Peak and Southern District.
Among them, One Stanley performed best, recording 17 transactions in the period.
Buyers in the region are more diverse and international, with mainland buyers still being the majority and accounting for 70 percent. 20 percent of the buyers are local and 10 percent are European.
Meanwhile, 83 first-hand transactions exceeding HK$100 million were recorded in the first half of the year, totaling HK$15 billion, a 23.9 percent and 12.8 percent increase respectively.
Houses saw 367 transactions, generating a total of HK$17.19 billion, a 8.6 percent and 4.4 percent increase respectively, reaching a four-and-a-half-year high since the fall of 2021.
