According to Wong Leung-sing, Senior Associate Director of Centaline Property Research, the total number of sale and purchase agreements (including residential, car parking and commercial and industrial properties) registered in 2022 was 59,604, with a total value of $560.35 billion, down 38.0% and 38.9% respectively from 96,133 and $917.84 billion in 2021.

The number of cases hit a 32-year record low since 1991 when territory-wide data became available, falling below the low of 70,503 cases in 2013, while the value hit a six-year low after $532.81 billion in 2016.

The property market was hit by the epidemic and interest rate hikes in 2022, with weak trading. The recent upturn in sentiment and increase in transactions will only begin to be reflected in registrations at the end of January 2023, following positive news such as the easing of interest rate hikes in the US, the withdrawal of government measures to prevent the epidemic and the imminent customs clearance.

Overall, 3,550 transactions and $31.76 billion of transactions were registered in December 2022, down 4.4% and up 5.1% respectively from 3,713 and $30.23 billion in November. The number of registrations hit a near four-year monthly low after 3,038 in December 2018.

For first-hand private residential properties, 10,262 cases worth $114.06 billion were recorded in 2022, down 41.3% and 51.8% respectively from 17,469 cases and $236.79 billion in 2021.

Both the number and value of transactions hit a nine-year low since 2013 when 9,753 cases and $92.272 billion were recorded.

On a monthly basis, 227 first-hand sales and $2.67 billion were recorded in December, down 38.8% and 51.0% respectively from 371 and $5.45 billion in November.

The number of cases was at an eight-month low since April 2022, when 257 cases were registered, and the value was at a monthly low for over nine years since July 2013, when $1.85 billion was registered.

The highest number of new properties registered in December was One Innovale Cabanna, One Innovale Phase 3, Fanling, with 30 units and $144 million.

The second highest number of new properties registered in December was One Innovale Cabanna in Tsing Yi with 17 and $107 million. Kai Tak River King and Park Yoho Bologna, Phase 3 of Park Yoho, Yuen Long, each recorded 14 cases with a total value of $468 million and $94 million respectively.

For second-hand private residential properties, 31,814 cases worth $282.83 billion were recorded in 2022, down 38.7% and 40.5% respectively from 5,1298 cases and $475.00 billion in 2021.

The number of transactions fell below the 2016 low of 34,657, a 27-year low since records began in 1996, and the value of transactions reached a six-year low after $237.21 billion in 2016.

On a monthly basis, December recorded 2,065 second-hand sales and $18.20 billion, down 4.4% and 6.9% respectively from November's 2,159 sales and $19.54 billion.

The number of transactions hit a near three-year monthly low since January 2020, when 1,978 cases were recorded, and the value hit a three-month low since September 2022, when $18.13 billion was recorded.

For large estates, 31 transactions were registered in Taikoo Shing ($317 million), 31 in Kingswood Villas ($152 million), 24 in City One Shatin ($114 million) and 20 in Mei Foo Sun Chuen ($161 million) in December.