Hong Kong luxury residential sales and rents continue to rise in May

Luxury home sales grew 27.1% to 89 units.

Hong Kong's residential market extended its positive momentum in May, led by continued strength in the luxury segment and robust primary sales activity, according to Knight Frank.

Knight Frank said 89 luxury residential transactions above HK$50 million were recorded during the month, up 27.1% from April, highlighting resilient demand for prime homes.

For the first five months of 2026, residential transaction volume reached 33,160 units. Primary sales totalled 10,556 units, up 56.3% year-to-date and significantly outperforming secondary sales, which increased 14.6% to 22,604 units. Knight Frank attributed the stronger first-hand market to developers launching new projects and successfully capturing buyer demand.

Among recent launches, Knight Frank identified PAVILIA ROSA in Kowloon Tong as a standout project. The development released 109 units through price list sales and tender, with 60 units sold to date and a top achieved price of HK$56,866 per sq ft.

The consultancy also reported continued strength in the leasing market. Knight Frank's Luxury Residential Rental Index rose 8.2% year-on-year and 4.2% year-to-date in May, while the RVD rental index increased 5.1% year-on-year and 1.8% year-to-date, indicating broad-based rental growth across both the luxury and mass residential markets.