Data from the Land Registry, compiled by Hong Kong Property's research division, reveals that 288 secondary residential transactions exceeding HK$10 million were recorded in the first 20 days of this month. This marks a decline of approximately 26.7% compared to the 393 cases logged during the same period last month. Based on current registration momentum, the full-month figure for August could potentially reach 430 transactions.

Wang Pindi, Director of Research at Hong Kong Property, explained that since there is typically a delay between signing a sales contract and submitting it for registration at the Land Registry, August's registration figures generally reflect the market conditions from July. With the improvement in property market sentiment during August, which is favorable to secondary market transactions, along with increased activity from upgrading buyers, this could help lift the number of secondary registrations above HK$10 million in September.

Breaking down the early-month performance by region, the New Territories recorded 60 transactions above HK$10 million, a drop of roughly 24.1% from the 79 cases in the same period last month. On Hong Kong Island (including Discovery Bay), 104 registrations were logged, down about 26.8% from the 142 transactions recorded previously. In the Kowloon area (including Tseung Kwan O and Sai Kung), 124 secondary home sales above HK$10 million were registered, representing a decrease of approximately 27.9% compared to the 172 cases seen in the prior month.

Regarding the ranking of residential estates by transaction volume this month, Festival City leads with 7 secondary registrations exceeding HK$10 million, a substantial increase of 2.5 times from the 2 cases recorded during the same period last month. Meanwhile, Discovery Bay, Pavilia Farm, and LOHAS Park are tied for second place, each with 5 transactions above the HK$10 million threshold. Among these, Discovery Bay remained flat month-on-month, while Pavilia Farm saw a decrease of roughly 37.5% from the 8 registrations last month, and LOHAS Park experienced a drop of about 54.5% compared to the 11 cases in the prior period.