Hong Kong’s property market is heating up and second-hand transactions are booming over the Christmas holidays. According to statistics from Centaline Real Estate, the top ten residential complexes recorded 17 transactions in the last two days of last weekend, an increase of 1.8 times from the previous weekend’s 6 transactions, and reached an 18-week high ; and about 32 transactions were recorded over the 4-day Christmas holiday, even more It reached a new high in about 12 years in the same period after 2010.
Chen Yongjie, vice president of Centaline Property Asia Pacific and chairman of the residential department, said that rate hikes in the United States have slowed and China and Hong Kong have gradually eased epidemic prevention measures. The mindset has turned positive and the pace of entry into the market has also been accelerated. As there are currently no new large-scale projects started in the primary market, mainly due to the end of commodities, a lot of purchasing power returns to the secondary market. The economy and real estate market are expected to gradually start the road to normal Next year. , property prices are expected to successfully bottom and property prices are expected to rebound 15% from the trough next year.
Among the index housing estates, Mei Foo Sun Chuen is the most prosperous. Zhongyuan Feng Jianping pointed out that Mei Foo New Village had 10 transactions during the 4 holiday days and 5 transactions on weekends, including the low-floor room B at No. 89 Broadway, with a salable area of 914 square feet and three bedroom unit. The original asking price was 9.8 million yuan, but was finally accepted by the replacement tenant at 9.2 million yuan, a cumulative reduction of 600,000 yuan, and the price per square foot is about 10,066 yuan. The original owner entered the market for 9.6 million yuan in May 2017 and has held the goods for 5 years. Now he has left the market with a loss of about 400,000 yuan on the book, and the residential complex has temporarily recorded about 34 transactions this month.
In addition, Zhongyuan Zhuang Jianlan said that Taikoo Shing recorded 3 transactions in the past two days over the past weekend, breaking the previous weekend’s boring situation of “holding eggs”; while there were 8 transactions recorded during the 4-day holiday, including the Hangong Pavilion F high-rise building, with a usable area of 723 square feet, a three-room apartment, changed hands for 12.3 million yuan and the price per square foot is about 17,012 yuan. The housing developments temporarily recorded 19 transactions this month, with an average price of usable square feet of around HK$16,214.
INNOVATIVE ONE-Cabanna sold 24 units during the long vacation
In terms of new projects, Henderson Land (012) Fanling North ONE INNOVATIVE-Cabanna sold well during the long holiday Lin Damin, general manager of Henderson Land Agency Sales (1), said the project had a total of 24 transactions during the long holiday 4th Christmas holiday, which involved more than 100 million yuan, proving that the market outlook on the project and the northern metropolitan area is quite positive. The list included 7 units sold in a row yesterday, and the highest transaction price was Room 6, 11th Floor, Block E, with a usable area of 294 square feet, which was sold for RMB 4.5515 million, or 15,481 RMB per square foot.
Kowloon Jianye (034) Tseung Kwan O Hai Yin Manor has been completed. The price list was updated a few days ago. 45 special festival offers and furniture combination discounts have been added. The discount can go up to 20%. After the discount, the unit price ranges from 4.16 million to 6.58 million yuan; at the same time, 13 units will be sold on a first-come, first-served basis this Saturday.
Originally released on AM730 https://www.am730.com.hk/Real Estate/Property Market Recovery – Top 10 Christmas Residential Real Estate Transactions – Busiest in 12 Years / 354643?utm_source=yahoorss&utm_medium=referral
