In "Hong Kong Property," Centaline: The number of new property subscriptions in 2025 will nearly double, reaching a three-year high, but will significantly decline in the fourth quarter

According to the latest data from the Central Plains Real Estate Research Department, the number of primary private residential sales agreements recorded in 2025 reached 881, nearly doubling from 443 in 2024, marking a three-year high since records began in 2023. Among these, cases opting for large deposits accounted for as much as 90%, reflecting buyers' strong determination to abandon transactions amid market fluctuations.

However, there are clear signs of a market turnaround. The number of sales agreements in the fourth quarter of 2025 plummeted to 154, a sharp decrease of nearly 60% from 381 in the third quarter. The research department believes this indicates that most buyers who entered the market at high property prices have completed the sales agreement process. As the market atmosphere warms and property prices stabilize and rise, coupled with developers starting to increase prices for new launches, it is believed that the peak period for sales agreements has passed. It is expected that the number of sales agreements in the first quarter of 2026 will further drop to below 100.

In the fourth quarter, only 40% of the sales agreement units were successfully resold in that quarter, a significant drop from 70% in the third quarter, mainly because nearly half of the agreements occurred in December and were not reintroduced in time. However, as market conditions improve, developers are accelerating the sale of agreement units, and market purchasing willingness is increasing. It is expected that the resale ratio will soon return to above 50%. The project with the highest number of sales agreements in the fourth quarter was Phase B of Kai Bo Fung I in Tseung Kwan O, which recorded 31 agreements; followed closely by Kai Tak Runway with 19 agreements. Some projects, such as Pak Lung I, have been fully resold, and Runway also had 95% of units taken up, but projects like Kai Bo Fung I and Victoria Harbour No. 1 have yet to see successful resales of agreement units, mainly due to their later agreement dates