Hong Kong ranks second globally for US$10 million-plus home sales

There were 94 super-prime residential transactions in Q1 worth a combined US$1.84 billion.

Hong Kong's super-prime residential market continued to strengthen in the first quarter of 2026, ranking as the world's second most active market for US$10 million-plus home sales, according to Knight Frank's latest Global Super-Prime Intelligence report.

The city recorded 94 super-prime residential transactions worth a combined US$1.84 billion in Q1 2026, representing a 16% quarter-on-quarter increase in deal volume and a 17% rise in transaction value. Knight Frank said the results extended Hong Kong's recovery, placing it behind only Dubai, which recorded 193 deals worth an estimated US$3.43 billion, and ahead of New York with 90 transactions valued at US$1.67 billion.

Collectively, Dubai, Hong Kong and New York accounted for almost 60% of all super-prime residential transactions across the consultancy's 12 global markets during the quarter, highlighting the concentration of liquidity in a handful of international wealth hubs.

Knight Frank said transaction activity across the 12 tracked markets reached its highest quarterly level in the past year, driven by rebounds in Dubai, Hong Kong, New York, Palm Beach and Singapore. The consultancy said the performance demonstrates that private capital remains active at the top end of the residential market despite elevated borrowing costs and ongoing policy uncertainty in several markets.

On a rolling 12-month basis, Hong Kong recorded 284 super-prime transactions worth US$5.44 billion, making it the world's third most active market by both deal volume and value, behind Dubai and New York. Looking ahead, Knight Frank said policy developments, taxation, geopolitical risks and the trajectory of interest rates will remain key factors shaping activity through the second quarter.