As stated earlier, the hong kong city of buildings during this round is characterized by a “better price”: data from the dai de luen company show that hong kong building market turnover began to increase significantly in march 2025, and that, according to the hong kong wage gap valuation authority, the private housing sales price index was also at the bottom of the same period (point 284. 9), with a high convergence of points of time at which the bottom rebounded, which did not appear to be the “price-for-money” common in the mainland city in recent years
So, in 2025, the rise in the city of hong kong houses was due to some “suspension” measures — like the two-year and one-round stimulus policy in the mainland
It should be said that hong kong did have a number of policy initiatives in 2025, such as a substantial reduction in the stamp duty on dwellings under hk$ 4 million to hk$ 100, the lifting of mortgage pressure tests by the monetary authority, the easing of the mortgage ceiling, etc., but these were moderate “light repairs” and the untying of credit. In the language of the hong kong building city, the market's general assessment of the 2025 policy was “sugar-free” and the further “sweet” measures expected from the outside world had failed。
The truly heavy stimulus policy, which still dates back to 2024 and which, after the introduction of the policy, is subject to a basic ad valorem stamp duty, regardless of whether the local or non-residents buy the first suite. This is equivalent to a return to the era of “zero tricks” in hong kong city after 14 years, which was recognized as the highest-heavy stimulus policy. The calculations show that a 10 million hong kong dollar house could save about 1 million hong kong dollars in stamp duty
If the concept alone is not felt, let us be clear: if the interior suddenly removes all cities from the limit on purchases, loans, value added taxes on second-hand purchases and a tax credit threshold, it is “spicy”. Spicy is an uncomfortable “spicy trick”。
In 2024, it was “spicy”, but it was only in 2025 that the hong kong building market started to burn, with the middle being cyclical fluctuations in the economy. These fluctuations, in addition to macro-factors such as the over-turn, the recovery of the economy, the 2025 us federal reserve interest rate, the downfall of the hong kong mortgage rate, and the influx of people, may have raised the sky in hong kong city
Who's buying this
In recent years, there has been an increase in the use of mandarin in hong kong's shopping malls. Behind this is the growing number of buyers in mainland china who are raising the sky in hong kong city! The data show that more than 13,500 linguistic buyers entered the market throughout 2025, and that for the second year in a row there were 10,000 major cases。
In 2026, what happened? According to the latest u. S. Property figures, in february 2026, mainland buyers (identified by the buyer's name in english) registered a total of 1,365 second-hand residential markets in hong kong, amounting to approximately hk$ 15. 580 billion. The number of cases rose by approximately 10. 4 per cent per month, or 23. 1 per cent more。
Mainland buyers go to hong kong for “sweeping” not only in aggregate, but also in two dimensions of “high-handedness”: a single set of prices, and a “big-hander” without moving (meaning that the same buyer buys multiple housing units in the same neighborhood) — the hong kong market, where there is never any limit to buying, as long as you have the money, buy the whole neighborhood down, but pay a stamp duty
First, according to the hong kong gazette, in 2025, domestic buyers accounted for about 69. 7 per cent of single housing units of more than hk$50 million; hk$20 million to hk$50 million accounted for about hk$64. 3 per cent, and hk$10 million to hk$20 million for 57. 3 per cent, while in 2024, mainland buyers accounted for even higher shares in top markets — having to admire the eyes of the rich
In addition, as of 20 march, there were 265 cases recorded in the hong kong new housing market in the first quarter of 2026, up from the same period since 2008. Two of the most notable transactions involved two “large-hands” who entered the market in the name of the company and bought nine units each in one breath。
In recent years, hong kong's building city has also been shaken by the rapid growth of the mainland's “taskers”, although they are not yet dominant in hong kong
The us dollar figures show that in the first two months of 2026, when compared to the same period in 2025, the number of cases rose by about 3. 8 times a year, the number of groups by about 4. 8 times and the amount by 3. 2 times. While still a small number of totals, the rate of growth indicates that the share of inland buyers among large players is rising rapidly。
The u. S. A. Data also show that domestic buyers are more inclined to sell their goods at a price. • in the first two months of the year, the largest number of buyers from the mainland bought hk$ 6 million or less, recording 112, or approximately 56. 6 per cent of the total number of buyers from the same period. Hong kong's “old and small” is also favoured by mainland buyers
So many houses have been bought not to enjoy the feeling of living in a one-day house, but to use it as an asset, or else i'm sorry for the reputation of hong kong's global financial center
It is well known that real estate has a long-term population, medium-term land, short-term finance. In recent years, however, hong kong has launched a variety of talent programmes, which have also injected spring water into hong kong's buildings while rejuvenationing both sides of the river. These are highly educated, highly intelligent young people. The need to rent a house is out of control
According to media reports, as of the last three years, about 600,000 applications have been received for entry programmes, and over 410,000 have been approved, of which about 300,000 are from the interior. Over 150,000 applications have been received over the past three years, of which more than 120,000 have been approved。
An average of 0. 9 dependants (spouses or children) are carried by a highly talented holder, meaning that almost every approved person follows a full family. Once settled, this group not only generates its own housing needs, but also the long-term, rigid housing needs of the entire family. The rigid background of “high-tech” provides the foundation for this demand。
Talent brings about not only rental demand, but also changes the return on investment in the hong kong building market. According to a january 2026 study by kwok sein securities, by november 2025 hong kong had achieved a return of 3. 6 per cent on rent for private housing units of less than 40 square metres, with a rate of return of about 3. 1 per cent per unit of 40 to 69. 9 square metres. In contrast, the far north rent return was only around 2 per cent。
Data on china's original properties also show that the overall rent return for january 2026 was 3. 38 per cent, and 66. 4 per cent of the housing stock achieved “equal rent” (rental return was higher than monthly). It's a "rent loan"! The market will naturally be activated when a small and medium-sized family rental income is sufficient to cover the monthly supply and can even generate several thousand hk$ positive returns per month。
Not only are these “big hand pens” and these “high talent” who are already standing in hong kong
Now, instead of paying for the landlord's building, it's better if you help yourself to feed yourself, to go back to hong kong, to buy a house for your own pocket money every month, even if you can't even lie down — believe that the talent of finance is so rich that it's enough
However, the “inclusion” of talent is only the first step, and “staying” is the key. The data disclosed at the end of 2025 showed that only about 53 per cent of the approximately 33,000 high-level candidates whose first visas expired had submitted a renewal request. Nearly half of the people did not apply for an extension, and behind them was the high cost of living and the renewal threshold。
However, another aspect of the coin is also of concern: the rate of approval of renewal applications submitted is about 94 per cent, with a median monthly salary of about hk$ 40,000 for higher talent, and 77 per cent for higher category a。
In other words, hong kong is not a “value filter” of precision through renewal. And those who have succeeded in renewing the contract are the long-term increases that the city deserves most. In this sense, the retention rate for the renewal of talent may better reflect the background of the hong kong building than the mere number of approved persons。
As an international financial centre, hong kong attracts funds from around the world, and the city is naturally no exception. In particular, many of the clients of dubai's former “restore” properties are now returning to hong kong to look for opportunities
As recently as march, hong kong officially confirmed that part of the middle east family offices had arrived in hong kong to avoid risk; market information showed that there had been a marked increase in recent consultations among customers in the middle east on hong kong equity investment, bond allocation and the establishment of a family office in hong kong, and even that there were sound plans to reallocate between 15 and 20 per cent of assets back to hong kong — history and reality had shown that hong kong might be lower in terms of return, but at least there was no war
End
The bottom line of the hong kong building has never been based on mere policy or emotion. Capital access to free ports, the foundations of the common law rule of law, and an internationally integrated financial system are its hard-core assets that cross cycles. Short-term or bumpy, but the “foot vote” of global capital and talent has provided the strongest footnote on the long-term value of the city。
