Hong Kong property market in March 2025: First-hand transactions doubled and the property market gradually stabilized

In March 2025, the transaction volume of the Hong Kong property market rebounded significantly, especially the first-hand private residential market. After the Lunar New Year, a number of new projects such as Royal Plaza and Yoho West were launched in batches, and the sales were ideal, driving the first-hand transaction volume from 1,235 in February to 1,630 in the first half of March. It is expected that the transaction volume for the whole month will reach more than 2,500. This is mainly because a large number of relatively reasonably priced units have appeared in the market, attracting first-time home buyers to enter the market, reflecting the recovery of self-occupied demand. The secondary market has also seen an increase in transactions, and the prices of some units have fallen to the level of three or four million Hong Kong dollars, making them affordable for more buyers. Overall, the decline in housing prices exceeded 25%, but the increase in trading activity showed that the market has gradually bottomed out and began to stabilize.