Hong Kong property stocks are generally up, with Wharf REIC (01997) up 3.2%, SHK PPT (00016) up 1.88%, Hang Lung PPT (00101) up 1.86%, Link Real Estate Investment Trust (00823) up 1.62%, and Swire Pacific A (00019) up 1.52%.
According to data from the Hong Kong Land Registry, there were 7,361 contracts for all types of building sales submitted in May, representing a 39.3% YoY increase. Of these contracts, 5,546 were for residential buildings, a YoY increase of 38.5%, but a MoM decrease of 35.1%. The total value of all building sales contracts in May was HKD 62.3 billion, a YoY increase of 39.8%, but a MoM decrease of 25.8%.
According to Midland Realty Mortgages, the property market has regained momentum since the removal of cooling measures in March, with significant increases in both primary and secondary transactions. It is expected that the mortgage registration figures will begin to reflect the post-cooling market conditions and show a significant increase from June.