Key facts
- Hong Kong homebuyers showed interest in 130 flats from developers on Thursday.
- The pace of sales was more measured due to the increasing likelihood of an interest rate hike.
- At the La Montagne project, 30 out of 75 units were sold.
- At One Victoria Cove Phase 4, five units were sold.
- Moody's expects Hong Kong residential prices to increase in 2026, citing demand from talent inflows and mainland Chinese buyers.
- Overall home sales in Hong Kong increased 16.7% month-on-month in April.
Hong Kong homebuyers showed interest in new flats on Thursday, but the pace of sales was more measured as an interest rate increase later this year becomes more likely. Agents reported that 30 of the 75 units offered at Phase 4B of the La Montagne project at Wong Chuk Hang sold, with prices ranging from HK$13.4 million after discounts. At One Victoria Cove Phase 4 in Hung Hom, five units were sold, priced between HK$6.88 million and HK$13.52 million.
Despite the cautious sentiment, Moody's Ratings expects Hong Kong's residential property market recovery to continue, forecasting price increases in 2026. The agency cited demand from professionals relocating to the city and homebuyers from mainland China, as well as surging rents, as supporting factors. This forecast follows Morgan Stanley's upgrade of its residential price estimate for the year.
Official data shows that prices of lived-in homes rose to a 28-month high in March, sustaining a recovery that began 11 months prior. Overall home sales climbed 16.7% month-on-month in April to 7,368 units, with the sales value increasing 15.4% to HK$63.67 billion.