＜HK Home＞Centaline: Putonghua Pinyin Buyers Account for 20%+ of Private Home Buyers in 1H24, Involving $70.5B

　　According to the latest figures from Centaline Property, the proportion of “Putonghua Pinyin” buyers (i.e. those whose full English names are Putonghua Pinyin) in the overall private residential property market in 1H24 has risen to more than 20% for the first time, involving a total purchase amount of $70.5 billion. Both figures saw record highs. New districts such as Kai Tak and Wong Chuk Hang Station have replaced Kowloon Station and other hotspots for Mainlanders in recent years.

　　Centaline noted that in the first six months of this year, a total of 6,117 sales and purchases by Putonghua Pinyin buyers were registered, representing a sharp surge of nearly 70% compared to 3,667 in the same period last year, and the total amount of money involved was $70.54 billion, a YoY increase of 42%. New record highs were achieved in both the number of transactions and the amount of money since 1995 when the records were first kept. The proportion of Putonghua Pinyin buyers in Hong Kong's property market has risen to a record high of 25%, with the total market value accounting for 30.9%.

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　　In 1H24, the capital inflow into the primary market reached $109.7 billion, of which nearly 40% or $43.4 billion of the buyers were Putonghua Pinyin buyers, accounting for the highest proportion ever. A total of 8,974 new property transactions were registered in Hong Kong in the first half, of which 3,027 were made by Putonghua Pinyin buyers, and 84% of which were made after the withdrawal of property “Spicy Measures”.

　　Among the first- and second-hand flats purchased by Putonghua Pinyin buyers in the first half of the year, 3,970 of them were priced at less than $10 million, accounting for 65% of the total. They meanwhile purchased 106 luxury flats that were priced at more than $50 million.

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