HONG KONG, May 13 (Reuters) - The number of Hong Kong homes bought by mainland Chinese surged 48% in April from the previous month to a two-year high, data from property agent Midland Realty showed, supported by a strong yuan and a shift to purchasing from renting.
Here are the details:
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Mainland Chinese bought 1,892 homes in April, worth HK$18.9 billion. The combined transaction value was 31% higher than in March and the most in 17 months.
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Mainland Chinese accounted for 27.5% of total housing purchases in April.
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They favour new homes, with 1,032 of April purchases coming from the primary market and accounting for nearly half of the new home sales.
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Midland analyst Benny Sham expects the trend will continue as more Chinese professionals working in the city decide to buy because rents are rising.
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The home transaction volume and value last month were both the highest since April 2024, according to another realtor, Centaline.
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Official data in March showed private home prices in Hong Kong rose for a 10th month in a row, helped by improved sentiment and pent-up demand.
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Brokerage analysts forecast gains of at least 10% for the full year, citing a resilient stock market, strong demand from mainland Chinese buyers and lower inventory.
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Residential prices climbed 3.6% in 2025, the first increase since they peaked in 2021. Since then, they have tumbled nearly 30%.
Reporting by Clare Jim; Editing by Edwina Gibbs
Source: Reuters