Between January and June, 654 buyers acquired two or more units in the primary market, purchasing a total of 1,794 flats worth HKD17.4 billion (US$2.2 billion), according to Centaline Property’s data as reported by the South China Morning Post.
The figures more than doubled from a year earlier and set record highs for the number of buyers, units purchased, and total transaction value.
Bulk buyers accounted for about 14% of all primary-home transactions during the period, meaning around one in every seven new flats was purchased by buyers acquiring at least two units.
Buildings in Hong Kong. Photo by Unsplash/Annie Spratt |
The surge in purchases reflects rising investor interest in rental properties as demand from mainland Chinese students and imported workers continues to drive rents higher. Hong Kong’s rental index reached another record high in June, making smaller apartments near universities and transportation hubs increasingly attractive to investors.
The number of Hong Kong homes bought by mainland Chinese surged 48% in April from the previous month to a two-year high, according to Reuters, citing data from property agent Midland Realty.
Midland analyst Benny Sham expects the trend will continue as more Chinese professionals working in the city decide to buy because rents are rising.
Official data in March showed private home prices in Hong Kong rose for a 10th month in a row, helped by improved sentiment and pent-up demand.
“Investors had become an increasingly important source of demand in the primary market since Hong Kong scrapped all residential cooling measures two years ago,” said Louis Chan Wing-kit, Centaline’s vice-chairman for Asia-Pacific and president of its residential division.
Most bulk purchases were concentrated in developments well suited to the rental market. Sun Hung Kai Properties’ Lime Spark in Tsuen Wan, a popular rental district with strong transport connections, topped June’s bulk transactions with 29 deals covering 95 flats worth HKD669 million, according to Centaline Property.
Henderson Land Development’s Highwood in To Kwa Wan and One Victoria Cove in Hung Hom, both located near university campuses, recorded 16 and 13 bulk transactions, respectively. Together, the three developments accounted for about three-quarters of June’s bulk purchases, according to the South China Morning Post.
Most investors bought two units, although 65 buyers purchased at least five homes and seven acquired 10 or more. The largest single transaction in the first half of 2026 involved an investor buying 16 flats at Henderson Land Development’s Highwood in To Kwa Wan for more than HKD111 million, according to Land Registry data.
Bulk-buying activity eased in June as developers launched fewer projects. A total of 83 investors purchased 229 flats during the month, down from 153 buyers who acquired 384 units in May. Chan estimated that mainland Chinese buyers made up 40% to 50% of June’s bulk purchasers.
Centaline expects bulk purchases to accelerate in the third quarter as developers introduce new projects and investor attention returns to the property market following the World Cup. The agency added that a rebound in the stock market should further support buying sentiment.
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