In "Hong Kong Property," the inventory of first-hand private residential units has fallen below 19,000 units, reaching an 11-quarter low

According to the latest data from the Central Plains Real Estate Research Department, the inventory of first-hand private residential units in the fourth quarter of 2025 has dropped to 18,694 units, falling below the 20,000-unit level for the first time in nearly two and a half years, marking a new low in 11 quarters since the first quarter of 2023. The inventory has decreased for three consecutive quarters, with a total reduction of 3,960 units.

Yang Ming-yi, Senior Executive Director of the Central Plains Real Estate Research Department, pointed out that the improvement in the property market atmosphere, the bottoming out and rebound of property prices, along with developers actively launching new projects, and the lowest historical level of the best mortgage rates in Hong Kong, have stimulated buyers' willingness to enter the market, significantly alleviating the inventory backlog situation. She expects that with the recent launch of multiple projects and the upcoming Lunar New Year peak season, the inventory in the first quarter of 2026 is likely to further decline to around 17,000 units.

The statistics for the fourth quarter of 2025 cover 374 new projects, totaling 141,947 units, with 123,093 units registered as sold, resulting in an inventory of 18,694 units. The inventory decreased by 1,785 units quarter-on-quarter, down 8.7%, marking a total decline of 17.5% over three consecutive quarters, successfully escaping the earlier danger level of exceeding 20,000 units for nine consecutive quarters. In terms of inventory proportion, the fourth quarter recorded 13.2%, a decrease of 1.3 percentage points quarter-on-quarter, and a total decline of 3.4 percentage points over three consecutive quarters, reaching the lowest level in 14 quarters since 13.2% in the second quarter of 2022.

By developer classification, Wharf Holdings saw its inventory decrease by 535 units to 1,907 units, the largest reduction; New World and China Overseas also saw decreases of 214 units and 148 units, respectively. In contrast, due to the impact of large new project launches, the inventories of Sun Hung Kai and Henderson Land increased by 678 units and 105 units, respectively