The first weekend of 2026 (January 3–4) saw a mixed performance in Hong Kong’s property market, with new home sales rebounding while the secondary market remained under pressure. In the absence of new large-scale launches, buyers focused on remaining inventory from existing projects, driving approximately 50 first-hand transactions—a significant 35% increase compared to the previous weekend. Among the projects, Henderson Land’s The Paddington recorded the best sales performance, supported by steady transactions at Vanke’s Le Mont and Sino Land’s Grand Mayfair series.
In contrast, the secondary market struggled as buyers held back in anticipation of upcoming large-scale launches, such as those in Sai Sha. Coupled with the lingering holiday atmosphere, the four major real estate agencies reported a drop in sales across the top ten housing estates, with some estates recording zero transactions.
Despite the subdued secondary market, some savvy buyers viewed the current climate as an opportunity to secure bargains. For instance, seasoned investor Ken Lui (Ken Sir) took advantage of an urgent sale triggered by an emigrating owner, acquiring a two-bedroom unit at Allway Gardens for just HK$2.99 million, below market value. On Hong Kong Island, a premium unit at South Horizons also changed hands, with a long-time owner cashing out at a significant profit. These transactions highlight that market liquidity remains intact, with funds waiting to be unleashed once pricing for new launches becomes clearer.
50 New Home Transactions Over the Weekend, Up 35% from Last Week
During the first weekend of the year (January 3–4), there were no major new project launches, but the first-hand market still showed resilience. According to market data, around 50 new home transactions were recorded over the two days, a notable 35% rebound from last weekend’s low of 37 transactions, which was impacted by the holiday season.
While overall transaction volume remained moderate, sales were spread across a diverse range of properties, including luxury homes and remaining inventory. Market analysts observed that developers adopted a cautious stance at the start of the year, focusing on clearing leftover stock while preparing for new launches after Lunar New Year.
Looking ahead, as buyers return to the market post-holiday and developers introduce incentives for Lunar New Year, purchasing power is expected to be further unleashed. With major projects in Sai Sha and other areas set to launch soon, coupled with restrained pricing strategies by developers, first-hand transaction volumes are likely to increase later this month, setting a positive tone for the 2026 property market.
The Paddington Sells 12 Units Over the Weekend, Generating HK$66.66 Million
Henderson Land’s The Paddington, located on Sai Yeung Choi Street North in Cheung Sha Wan, delivered a strong performance over the weekend (January 3–4), selling 12 units and generating over HK$66.66 million in revenue. Sales records revealed that two-bedroom units in Tower B were particularly popular, securing the top three spots for highest transaction prices.
The most expensive unit sold was Unit B1 on the 17th floor of Tower B, with a sale price of HK$8.256 million. The unit, with a saleable area of 411 square feet, achieved a price of HK$20,087 per square foot.
The second and third most expensive units were also two-bedroom layouts, namely Unit B1 on the 12th floor and Unit B1 on the 15th floor, both with a saleable area of 411 square feet. These units sold for HK$8.1075 million and HK$8.0586 million, respectively, translating to HK$19,726 and HK$19,607 per square foot.
Tai Po’s Le Mont Sells 7 Units Over the Weekend, Generating HK$43.29 Million
Vanke Hong Kong’s Le Mont series in Taipo saw a steady sales performance over the weekend (January 3–4), with 7 units sold across Phase 2 and Phase 3, bringing in over HK$43.29 million in revenue. Of the transactions, 3 units were sold in Phase 2, while 4 units were from Phase 3.
Among the Phase 2 transactions, two high-priced three-bedroom units stood out. The most expensive was Unit A10 on the 3rd floor of Tower 7, with a saleable area of 723 square feet. It sold for HK$8.755 million, equating to HK$12,109 per square foot. Another notable transaction was Unit A8 on the 5th floor of Tower 6, a 620-square-foot unit sold for HK$7.43 million, or HK$11,983 per square foot.
For Phase 3, the top transaction was Unit A7 on the 12th floor of Tower 3, a two-bedroom unit with a saleable area of 474 square feet, which sold for HK$6.314 million, or HK$13,320 per square foot.
Grand Mayfair Series Records 4 Transactions, Generating HK$26.7 Million
Sino Land’s Grand Mayfair series in Kam Sheung Road, Yuen Long, recorded 4 transactions over the weekend (January 3–4), generating approximately HK$26.7 million. Among these, 3 transactions were from Grand Mayfair III, while 1 transaction came from Grand Mayfair I.
The sole transaction in Grand Mayfair I was Unit B1 on the 11th floor of Tower 6, a one-bedroom unit with a saleable area of 339 square feet. It was sold for HK$5.6287 million, translating to HK$16,603 per square foot.
Meanwhile, Grand Mayfair III recorded a standout transaction with Unit A6 on the 16th floor of Tower 2, a two-bedroom unit with a saleable area of 467 square feet. It sold for HK$7.7935 million, or HK$16,688 per square foot, making it the highest-priced unit in the series over the weekend.
Secondary Market Transactions Decline Across the Board Over the Weekend
According to statistics from Hong Kong’s four major real estate agencies, the weekend saw a decline in transactions across the top ten blue-chip housing estates. Midland Realty recorded 12 transactions, down by 3 compared to last week (-20%), while Ricacorp Properties reported 9 transactions, a drop of 4 (-30.77%). Meanwhile, Centaline Property Agency and Hong Kong Property Services both saw declines, with 8 (-38.46%) and 7 (-12.5%) transactions, respectively.
Peter Wong, Director of Research at Hong Kong Property Services, noted that the market is currently awaiting the launch of major new projects. While buyer interest is gradually recovering post-holidays, the upcoming new developments are diverting attention and freezing funds, resulting in subdued activity in the secondary market. Wong pointed out that while some estates reported multiple transactions over the weekend, others experienced "zero sales." He expects that as the holiday season fades, the new project launches will heat up the primary market and may gradually improve secondary market sentiment.
Louis Chan, Vice Chairman of Centaline Property Agency, added that restrained pricing for large-scale projects, such as those in Sai Sha, has further drawn attention away from the secondary market. However, he believes that as the market adjusts to the new launches, secondary market transactions will gradually pick up.
Secondary Market Sees Bargain and Profit-Driven Deals
Despite the overall slowdown in secondary market activity, notable profit-driven and bargain transactions continue to surface. Veteran investor Ken Lui (Ken Sir) recently purchased a two-bedroom unit at Allway Gardens for HK$2.99 million, below market value.
The unit, Tower J, High Floor, Flat 02, offers a saleable area of 477 square feet with a mountain view and well-maintained interiors. The original owner, emigrating overseas, was eager to sell and had initially listed the property for HK$3 million, even though the bank valuation was HK$3.8 million. Recognizing the opportunity, Ken Sir inspected the unit and closed the deal with only a HK$10,000 reduction, securing it for HK$2.99 million, or HK$6,268 per square foot.
Historical records show that the original owner purchased the unit in 1988 for just HK$450,000. After holding it for 38 years, the property was sold with a profit of HK$2.54 million, representing a 5.6-time increase in value.
On Hong Kong Island, a notable profit-driven transaction occurred at South Horizons, a blue-chip housing estate. Tower 23A, High Floor, Unit H, a four-bedroom unit with a saleable area of 781 square feet, boasting open sea views, was sold for HK$12.8 million, or HK$16,389 per square foot.
The seller had purchased the unit in 2012 for HK$8.88 million. After holding the property for 14 years, they sold it with a profit of HK$3.92 million, reflecting a 44% increase in value.
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