Real estate transactions registered in Hong Kong nearly doubled in April to the highest level in three years, months after the city's government took steps to revive the property market.

According to Bloomberg, data released by the Hong Kong Land Registry on May 3, 2024 showed that the number of real estate transactions surged to 9,880, an increase of 97% from March, reaching the highest level since July 2021. These include new and resale homes, commercial units, parking spaces and other non-residential units.

According to reports, the surge in transactions shows signs of recovery in Hong Kong's sluggish property market after authorities lifted some property market restrictions in late February. Hong Kong's major developers have recently begun selling new projects at deep discounts and releasing more inventory, stimulating market activity.