"it's like you're waiting in line for ferrari with cash, even if you have a billion dollars in your pocket, and now you want to buy a new house in hong kong, you have to rob." the founder of one sand technology ltd., chen yong-sung, laments this。
In the first quarter of 2026, hong kong's new home had reached a high level in the same period since 2013, and sales and sales registrations had reached an all-time high。
Hong kong has become the “leading sheep” of the national building market, taking advantage of the time, the land, the people and: it is the middle east and the global diversion of funds for risk avoidance in times of geo-conflict; it is the rent-based, interest-driven cycle of return; and it is the people and hong kong's many talent programmes that continue to be supported。
Clean the 10 suites with one breath
The big hand has entered the city in 18 years
Early on 22 march 2026, mr. Qiu arrived in hong kong from dubai. On that day, the southern block of hong kong opened for sale。
Mr. Qiu, a mechanical engineering company operating in suzhou, had already worked in deep-drive operations in dubai in the middle east, where his graduating son had planned to work and buy a house. However, the united states had replaced all plans with a sense of security as a result of the war in iraq。
The day of sale was an ordinary sunday, and the site of the sale of the deep water south was popular as a net shop, where, in addition to hong kong residents, people from the mainland who had towed their suitcases to buy the building and foreigners who spoke fluent language。
Fortunately, mr. Qiu was lucky enough to sign a 9 million hong kong dollar (hk$) start-up project to buy 337 square feet (approximately 31. 31 square metres) of a housing unit。
Mr. Zhou's old friend zhou peng fei was also involved in the project's subscription. He has long worked in hong kong and is currently the senior regional manager of hong kong hong kong, his third home to be invested in hong kong. However, he did not draw the desired 440 square feet。
“during the past year, three rooms were bought in hong kong with two friends and family, closed to their eyes. The price of the house was now at 70%, but it's still on the way up。
The deep water south, next to hong kong's famous deepwater bay, shinshin hill, and adjacent to the subway, folded the average foot price (0. 09290304 square metres) at about hk$ 27,000, attracting a total of 2,200 subscriptions, more than 23 times over。
According to the vice-president and managing director of the de fung estates of the project development chamber, huang guangyu, a client paid hk$ 129 million directly on the same day to take down 10 units in one breath。
Such large deals have been made and have been repeated in hong kong in recent years. On 28 march, hong kong's local developer, hengjimu, sold 123 housing units in the red shirt industry, which had been exhausted in just four hours, and had 10 one-time house sweeps, with a single project of over hk$ 1 billion。
According to the latest data on hong kong's chinese real estate, as at 20 march, there had been 265 cases of entry into hong kong's new housing market in the first quarter of 2026 (i. E. The purchase of multiple housing units by the same buyer in the same district), which had reached a high level in the same period since 2008。
From the southern district of hong kong to the kowloon core district, the new disk is on the rise. In the recent past, the hot-door building near tsim sha tsui, west kowloon heavy station has been sold out. In a “no choice” buyout, is the hong kong building city back on its way up
The middleman, "being busy from the start."
Middle east asset allocation client to hong kong
On march 28, chen wing jian, founder of sand technology ltd., wrote on his public name, “tom harbor house”, several words:
The time is not enough, the current customer needs to fall down like a mountain, and last night at 9 p. M. He ate his first meal, and the list of buildings with customers is long enough to read
There is not enough room, and the current top-class luxury market perfects what is called a “supply-demand imbalance”, and it feels like you're waiting in line for ferrari with cash, even if you have a billion dollars in your pocket to buy a new house in hong kong with heart water (consent)。
The rest a little。
Chen's team had over 20 clients who had subscribed to a project to buy tsim sha tsui, and eventually only two were drawn. On 20 march, during every interview with a journalist, chen young-chang stated that the clients of his team were mostly mainlanders who wanted to live in hong kong or those from mainland china。
According to chen, the real turning point in the hong kong building city occurred in the middle of last year, and there was a sudden emotional rebound in the market, “people are beginning to believe that hong kong's house prices will rise.”
Then there was a gradual increase in the number of people from the interior who came to see chen young-jaung, “from the moment they opened their eyes”. In the month leading up to the spring festival in 2026, chen's team organized four groups, followed by two groups after the spring festival, with 100 and 30 of the largest groups. In addition, during this period, chen and his team received almost 80 one-on-one house-watch clients per week。
“you know, the real estate market in hong kong used to be out of season between january and march, but between january and march this year, the more the house was sold, the more the fire was bought.” chen young-jeong said。
Chen and his team have also recently hosted two or three waves of middle east asset broker. These intermediaries were supposed to be looking for investment opportunities in the middle east for mainland clients, but since the beginning of the us-iraq war, some clients have looked to hong kong。
“some of their clients want to invest in large properties in hong kong through funds of more than hk$100 million, while others are more concerned about the availability of scattered housing between hk$5 million and hk$10 million. Because hong kong's house prices are four or five times higher than in the middle east, individual investors usually do not buy too expensive properties, either rent them or sell them in the second half of the year.” chen yongqiang says。
The escalation of the war in the united states and the islamic republic of iran has led to a global reallocation of funds, and hong kong has become a safe haven for internationally recognized security assets worldwide. This has been particularly evident in the increase in the number of family offices (hereinafter referred to as home offices)。
According to a february 2026 report commissioned by the hong kong investment promotion agency and published by deloitte, by the end of 2025, there were over 3,380 single-house offices in hong kong, with an increase of over 25 per cent over two years, with funding sources covering the middle east and europe. Approximately 40 per cent of the households interviewed have real estate in hong kong, with investments concentrated in hk$51 million to hk$100 million。
However, professor zhang quan, managing director of the institute of global economics and finance at the chinese university of hong kong, told journalists that while funds in the middle east flowed to hong kong, they were more for risk avoidance needs and were stored. When the funds enter the market, even if they are not available for the time being, they may have some or limited impact on the market。
It's been 13 years since the new house was opened
It's the insiders who smell warmth first
Since 2024 (on 28 february 2024, when the treasury department of the government of the hong kong sar announced the abolition of all residential property demand management measures), the hong kong city has undergone almost two years of construction, rehabilitation and confidence-building。
In early 2026, hong kong was tearing down old labels of the weak market。
According to the hong kong agency for the valuation of gaps, the price index increased by 1. 59 per cent in february 2026, for a period of nine months, and if the increase continued in march, the increase in the quarter alone would be followed up for the whole of 2025。
According to data from china, in the first quarter of 2026, there were 6,300 first-hand transactions in hong kong, a new one in 2013. The total number of new housing registers recorded was hk$62. 8 billion, 38 per cent and 94 per cent, respectively, up from the same period in the calendar year。
In 2025, the hong kong house price index (hkvi) increased by 3. 25 per cent: the number of first-hand new houses traded amounted to 20. 6 million, with a turnover of hk$ 22. 56 billion, an increase of hk$ 21. 9 per cent and 8. 2 per cent, respectively, over the same period; the number of second-hand deals increased by hk$ 39. 8 million and the amount of hk$ 291. 7 billion, an increase of 17. 9 per cent and 20. 4 per cent, respectively。
The warmth of hong kong house was first captured by mainlanders. When hong kong owners had not returned from the market, the mainlanders had taken the lead. In other cases, buyers have a huge bargaining space。
The general manager of the third real estate agency ltd., wu wenzhong, who has been working as a real estate agent in hong kong for many years, has had an intuitive feeling that since september last year, mainlanders suddenly started buying houses in hong kong much faster, “some bought two or three units directly, many of which were large household types above hk$ 50 million”
Early entrants have tasted the sweets of rising house prices. U weng zhong revealed that, between two years ago and last year, hong kong's homeowners increased their holdings by an average of 15 to 20 per cent, and that part of the housing stock increased by even 30 per cent。
A notable example is the blue case project, developed by the long steed group in cooperation with the hong kong iron group, which attracted a group of 28,000 subscribers in early 2024 and became hong kong's new board “vote master”, with an average of 66 people robbing a suite. Wang weichheng, senior business manager of the south bank branch of china's port of estate, stated that the project had its first second-hand deal in march of this year. The original owner bought it in 2024 with hk$9. 7 million in one hand and sold it in one day, making a profit of hk$1. 1 million from the transfer。
The director of the hong kong construction research department observed that mainland buyers now have a higher level of financial literacy. They are keen to capture the window period of tax exemption, interest fallout and high rent return, and treat hong kong's properties as long-term investment markers, “no longer buy a set of residences, or even a one-time purchase of five or six sets”。
The executive director of the trust and construction industry, tanaka, also told journalists that there had been a marked increase in the proportion of buyers in the interior of the company's platonic series。
Self-sustainment, investment, lease support
But, "house prices don't go up 90 degrees vertically."
Similarly, the building rebounded, and the city of hong kong in 2026 was fundamentally different from the “fry fire” in the early days of 2024。
U wenzhong remembers that after the fall in february 2024, hong kong city also experienced a boom in turnover, but that many of the buyers at the time entered the city with a “scrambling mind” that “because of the 30 per cent drop in tax fees, people felt cheap and did not take into account market conditions, rental values, and ploughed up their futures in remote areas of the new territories and in the tetum sector”。
The rebound in 2026 was the result of a combination of diversified needs, such as subsistence, investment and leasing。
According to wang ping, the core of the warming in the city is the liberation of the purchasing power of 15 to 20 years after the spicy policy. In the past, in the context of “hot tricks”, investors holding multiple housing units were reluctant to enter the market because of double stamp duties and other costs. After the policy was eased, the group began to optimize its assets “old, small, large and near” and thus boosted the overall dynamism of the market. At the same time, lower bank interest, lower time deposit returns and a double return of “rent gains plus rise in house prices” on investment in housing。
The city's recovery is also dependent on hong kong's “brain-raiding” programme. According to data released on 25 march by the director of labour and welfare of hong kong, sun yuxiang, over the past three years, about 600,000 applications have been received and over 410,000 applications have been approved, of which about 300,000 have been received from mainlanders. Over 150,000 applications have been received over the past three years, of which more than 120,000 have been approved。
The improvement in the demographic structure has brought about real housing needs, rental needs, demand for construction, and has become the most solid foundation to support the city。
According to tamao, the entry of investors has given strong signals to the market, and hong kong's housing market is expected to continue with the expected downfall of interest rates and the continued sale of high-quality dishes。
As for the future of the hong kong building, wang ping brother's judgement is “to return to the upward trajectory, but not to a 90-degree vertical surge”. He expected that the upward slopes would be steeper throughout 2026, greater than 45 degrees, and that the property that had entered the city at the end of last year and the previous year had risen in part by 20 to 30 per cent, but that it would gradually return to a steady upward pace。
The quantities indicate that hong kong has been in the interest-rate cycle since the end of 2024, and that the reduction in the stamp duty of the superseding city has left the city on an upward trajectory。
Is the city really on fire? The answer is yes, according to the queued crowds and climbers. The hong kong building has risen in position c when the capital, the cyclical power and the talent dividend flowed together in the yangtze river。
I've been planning this
