There were only 2 transactions in the top ten housing estates in Central Plains on weekends, a sharp drop of 71.4% week-on-week
Centaline Real Estate’s top ten housing estates recorded 2 transactions this weekend, a sharp drop of 71.4% from 7 last weekend, and 8 zero-transaction housing estates returned. Transactions continued to hover at low levels, and single-digit transactions have been recorded for 13 consecutive weekends . Chen Yongjie, Vice Chairman of Centaline Property Asia Pacific and President of the Residential Department, said that since the United States announced an interest rate hike, and major banks in Hong Kong followed up with the increase in the most favorable loan, buyers have a wait-and-see attitude towards the market outlook, and developers are actively promoting new projects. Some even cut prices to grab customers, causing further pressure on the second-hand market.
On Hong Kong Island, the three major housing estates did not record transactions over the weekend. Centaline Property Taikoo District Senior Regional Sales Director Zhao Hongyun said that there were no transactions recorded in Taikoo City this weekend. Due to the impact of interest rate hikes, prospective buyers are expected to remain cautious when entering the market. Coupled with the fact that property owners in the area generally have strong inventory holdings, most of them are unwilling to cut prices to sell, resulting in a tug-of-war situation between buyers and sellers. Taikoo Shing temporarily recorded 7 transactions in July, with an average usable sq. ft. price of about HK$17,352.
In the Kowloon area, Huang Huixia, senior divisional sales manager of Centaline Properties, said that Mei Foo Sun Chuen recorded a transaction this weekend. The branch recently facilitated the transaction of Room C on the very high floor at No. 107 Broadway Street, Phase 4 of Mei Foo Sun Chuen. The usable area of the unit is 850 square feet. The unit is divided into 3 rooms and enjoys high-rise garden views. The asking price was 10.5 million yuan when it was put on the market. Because the unit is a heritage property and the buyer needs to decorate it by himself, he is willing to cooperate with the price reduction. The latest price is 8.8 million yuan. The price per square foot is 10,353 yuan. It is understood that the owner has immigrated abroad and entrusted Zhongyuan as an exclusive agent for two properties in mid-March. The above-mentioned unit was purchased for 245,000 yuan in February 1978 and has been held for 45 years. The value of the unit has increased by 8.555 million yuan or more during the period About 35 times. Mei Foo Sun Chuen has temporarily recorded 15 transactions so far this month, with an average usable price per square foot of HK$11,046.
Ke Yong, sales director of Centaline Real Estate Senior Division, said that Metropolis recorded a transaction this week. The unit is Room E on the middle floor of Block 3, Phase 2 of Metropolis. The usable area is 538 square feet. After bargaining, it was sold at RMB 7.52 million, which is equivalent to RMB 13,978 per square foot. It is reported that the original owner bought the unit for 2.95 million yuan in 1999, and made a profit of 4.57 million yuan from the transfer. The value of the unit increased by 1.5 times during the period.
In the New Territories, the three major housing estates Sha Tin City One, Kingswood Villas and Yingwan Park have not heard of transactions this weekend. Wu Yaozu, deputy regional sales director of Centaline Properties in Tin Shui Wai, said that the area is dominated by just-needed customers and grassroots customers. Another hike in interest rates has led buyers to become more cautious about buying properties. In addition, the bamboo shoots in the area have been consumed by the market, and prospective buyers have a low desire to enter the market.
Attached table: Saturday and daily transaction volume of the top ten housing estates in Central Plains
2023-07-30 11:00:19
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