As we enter the second weekend of 2026 (January 10–11), the spotlight has been on the primary property market, particularly the first launch of Sierra Sea Phase 2A on Saturday (January 10). All 213 units were sold out in the first round of sales, marking a stellar start for the new year’s property market and reinforcing optimism for rising prices and transaction volumes in 2026. Over the weekend, the primary market recorded 337 transactions, a recent high, bolstered by strong sales performances from first-hand projects. This surge has created a vibrant atmosphere in the primary market, with overall sentiment leaning towards optimism.
However, the secondary market performed relatively poorly under the shadow of the strong primary market. With purchasing power primarily directed towards new launches, transaction volumes in the top 10 housing estates tracked by the city’s four major real estate agencies showed mixed results. While Centaline and Ricacorp recorded increases, Midland and Hong Kong Property reported declines. This reflects how secondary market activity has yet to benefit from the renewed momentum in the broader property market, as funds remain locked in new projects.
Primary Market Records 337 Transactions Over the Weekend, Surging Fivefold
During the second weekend of 2026 (January 10–11), the primary market recorded approximately 337 transactions, a significant increase of over fivefold compared to the 50 transactions recorded the previous weekend.
The primary market’s strong rebound was fuelled by the exceptional performance of Sierra Sea Phase 2A, which successfully unleashed pent-up demand. All 213 units launched were swiftly absorbed by the market in a single day. However, this success was not limited to just one project. The broader market recovery was evident in the robust interest shown in other developments such as the Le Mont series, Villa Garda I, The Haddon, and The Pavilia Forest I.
This collective momentum, led by a standout anchor project and supported by other competitive developments, not only drove up overall transaction numbers but also signalled a shift in buyer sentiment from hesitation to decisive action. This shift has become the cornerstone of the property market’s recovery.
Sierra Sea Phase 2A Sells Out in First Round Amid Heated Demand
On Saturday (January 10), the first round of sales for Sierra Sea Phase 2A, a development by Sun Hung Kai Properties in Sai Kung’s Pak Sha Wan, saw overwhelming demand. All 213 units listed were snapped up in a single day amid a frenzy of interest. According to internal data cited by 28Hse, the project generated total revenue of HK$1.236 billion in just one day, showcasing its strong market appeal.
A key highlight of the sales was the presence of large-scale buyers. According to agents, 10 high-net-worth buyers purchased five or more units each, demonstrating their confidence in the area’s development potential. Notably, three buyers acquired eight units each, while others purchased six, seven, or five units. The average investment for these bulk transactions was close to HK$40 million, with the largest single transaction amounting to approximately HK$48 million.
One buyer, reportedly drawn by the project’s potential for appreciation and high living quality, purchased five three-bedroom units for both personal use and long-term rental investment. These significant transactions further buoyed market sentiment and contributed to the overall optimism in the property market.
Le Mont Series Sells 23 Units, Generating Over HK$117 Million
Vanke Hong Kong’s Le Mont series in Tai Po continued its strong sales momentum over the weekend (January 10–11), selling 23 units across its three phases and generating over HK$117 million in revenue.
The sales included 11 transactions each in Phases 2 and 3, while Phase 1 recorded a single successful transaction. Among the notable deals, the most expensive transaction in Phase 2 was a three-bedroom unit (580 square feet) on the 10th floor of Tower 6, which sold for HK$7.083 million, translating to HK$12,212 per square foot. Another notable deal was a two-bedroom unit (449 square feet) on the 7th floor of Tower 7, which sold for HK$5.663 million, or HK$12,612 per square foot.
For Phase 3, the highest transactions included a three-bedroom unit (715 square feet) on the 6th floor of Tower 5, which sold for HK$9.064 million, or HK$12,676 per square foot, and a two-bedroom unit (432 square feet) on the 8th floor of Tower 3, which sold for HK$5.489 million, or HK$12,706 per square foot. The consistent demand for units of various sizes reflects buyers’ continued interest in smaller and mid-sized properties.
Villa Garda I Sells 12 Units, Raking in HK$71.36 Million
Villa Garda I, developed by Sino Land, K. Wah International, and China Merchants Land, launched 18 units in Lohas Park on Saturday (January 10). The project performed well, selling 12 units, or two-thirds of the available stock, in a single day. The total revenue from these sales reached approximately HK$71.36 million.
All transactions involved one-bedroom units, with the most expensive sale being a 335-square-foot unit on the 35th floor of Tower 1B, sold for HK$5.7121 million, or HK$17,051 per square foot. The second and third most expensive units were also in Tower 1B, on the 23rd and 19th floors, each measuring 335 square feet. They sold for HK$5.6545 million and HK$5.6321 million, with respective prices of HK$16,879 and HK$16,812 per square foot.
The Haddon in Hung Hom Sells 9 Units Over the Weekend, Generating Nearly HK$56 Million
Henderson Land's The Haddon, located in Hung Hom, recorded satisfactory sales over the past weekend (January 10–11). According to the transaction records, the project sold 9 units in two days, bringing in approximately HK$55.94 million. This reflects the continued strong market demand for high-quality urban properties.
Among the transactions, the highest-priced unit was Unit A on the 7th floor, which has a saleable area of 417 square feet and features a two-bedroom layout. It was sold for HK$8.2202 million, translating to a saleable price of HK$19,713 per square foot.
High-floor units also proved popular, with Unit B on the 22nd floor securing the second-highest price. This one-bedroom unit, with a saleable area of 369 square feet, was sold for HK$8.1133 million, or HK$21,987 per square foot. Despite its smaller size, the high-floor advantage drove its price per square foot higher than the two-bedroom unit mentioned above.
The Pavilia Forest Sells 5 Units Over the Weekend, Generating Over HK$40 Million
New World Development and Far East Consortium’s The Pavilia Forest, located in the Kai Tak Runway area, also attracted significant attention. Over the weekend (January 10–11), the project recorded five transactions, generating over HK$40 million in revenue, including several record-breaking high-price deals.
One of the standout sales over the weekend was a unit with “premium views.” Unit F on the 18th Floor of Tower 3 in The Pavilia Forest II, a one-bedroom unit with a saleable area of 262 square feet, was sold for HK$5.612 million, translating to HK$21,420 per square foot. This transaction set a new record for price per square foot for one-bedroom units in the project, driven by its expansive views of the exclusive yacht club.
Meanwhile, family buyers seeking more living space also made moves. Unit A on the 17th floor of Tower 1 in The Pavilia Forest III, a three-bedroom unit with a storage room and a saleable area of 666 square feet, was sold for HK$15.939 million, or HK$23,932 per square foot. This was the most expensive transaction of the weekend. Additionally, a two-bedroom unit in Tower 2, Unit A on the 15th floor, with a saleable area of 470 square feet, was sold for HK$8.703 million.
Since the opening of the completed show flats, buyers have expressed greater confidence in the project's quality. This has driven total sales of 157 units during the completed phase, generating over HK$1.2 billion. Since the launch of the series, 814 units have been sold, with cumulative revenue reaching HK$5.8 billion. The buyer demographic remains diverse, including local purchasers, large-scale investors optimistic about Kai Tak’s development potential, and expatriates entering the market.
Primary Market Dominates, Secondary Market Transactions Mixed
The latest statistics from Hong Kong’s four major real estate agencies show mixed performance in weekend transactions across the top 10 benchmark estates. Centaline and Ricacorp recorded 9 and 10 transactions respectively, each increasing by 1 from the previous week, with gains of 12.5% and 11.1%. In contrast, Midland Realty and Hong Kong Property recorded 10 and 5 transactions respectively, each dropping by 2 compared to the prior week, with declines of 20% and 28.6%.
Hong Kong Property noted that the highly successful first round of sales for Sierra Sea Phase 2A on Saturday drew significant buyer attention and capital, diverting demand from the secondary market. As a result, transactions in some benchmark estates were under pressure, with some estates even recording no transactions. According to the agency, the strong sales momentum in new projects has boosted overall market sentiment and buyer confidence, which is expected to release more purchasing power into the market, ultimately benefiting the secondary market in the longer term.
Meanwhile, Centaline remarked that the overall market is improving, which has encouraged buyers to act more decisively. Taikoo Shing recorded one transaction over the weekend and is expected to see more activity as buyers who missed out on new projects return to the secondary market later this month.
In the secondary market, Mei Foo Sun Chuen recorded a notable deal for mid-floor Unit A in Block 2, Phase 2, with a saleable area of 475 square feet and a one-bedroom layout. The unit was sold for HK$4.99 million, or HK$10,505 per square foot. The previous owner purchased the unit in 2010 for HK$2.75 million, holding it for 16 years and achieving a paper profit of HK$2.24 million, representing an 81% appreciation.
Similarly, Caribbean Coast in Tung Chung recorded a significant transaction for Unit E on the Mid-Floor of Tower 5, with a saleable area of 518 square feet. After negotiations, the unit was sold for HK$5.08 million, or HK$9,807 per square foot. The previous owner purchased the unit in 2011 for HK$3.27 million, holding it for 15 years and achieving a paper profit of HK$1.81 million, reflecting a 55% appreciation.
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