Mainland Chinese Buyers Drive Hong Kong Home Purchases to Two-Year High in April

Mainland Chinese buyers purchased 1,892 Hong Kong homes in April 2026, up 48% from March and the highest level in two years, Midland Realty data showed May 13. The transactions were valued at HK$18.9 billion, up 31% from March and the strongest in 17 months. Mainland buyers accounted for 27.5% of all Hong Kong housing purchases in April, with demand concentrated in new homes. They bought 1,032 primary-market units, representing nearly half of new-home sales, Midland said. Analyst Benny Sham said rising rents are pushing more mainland professionals working in Hong Kong to buy rather than lease. Centaline data showed overall home transaction volume and value in April were the highest since April 2024. Official data showed private home prices rose in March for a 10th straight month, supported by stronger sentiment and pent-up demand. Brokerage analysts expect full-year gains of at least 10%, citing mainland demand, lower inventory and a resilient stock market. Residential prices rose 3.6% in 2025 after falling nearly 30% from their 2021 peak.