The decline in second-hand property prices has not stopped. The Centaline City Leading Index (CCL) recently reported 162.31 points, a 262-week low, returning to the level in November 2017. It fell 1.5% week-on-week and fell for 6 consecutive weeks, with a total loss of 4.87%; The turnover of the top ten housing estates also dropped to single-digit levels in the past two days over the weekend. Centaline Real Estate pointed out that a total of 9 transactions were recorded on the weekend, which was 2 fewer or 18% on a weekly basis. Whampoa Garden and Metropolis recorded 2 transactions each, making them the most active housing estates; while the “Holding Egg” housing estates fell back to 3, being Taikoo Shing, City One Shatin and Bayview Garden.
Bai Juer snatches the purchasing power of Shangche housing estates
Chen Yongjie, vice chairman of Centaline Property Asia Pacific and president of the housing department, said that second-hand transactions continued to be sluggish, and the purchasing power of the new phase of white residences came out. Housing estates in the New Territories were most affected, with only one transaction recorded in the three major housing estates over the weekend. There is a lack of good news in the market, and second-hand properties are only accepted when the rate of decline increases. The number of cases of price cuts and losses has also increased. Buyers and sellers wait for good news such as customs clearance or price cuts before making a decision.
According to market sources, Room H on the lower floor of Block 3, Whampoa Garden Phase 4, has a usable area of 825 square feet and three rooms. It is reported that the original owner planned to immigrate. The unit was put on the market in May this year for 12.3 million yuan. In the end, it cost 1.85 million yuan and changed hands to 10.45 million yuan. The price per square foot is regarding 12,667 yuan. The bank valued the site at 12.26 million yuan, compared with the current transaction price which is 1.81 million yuan or nearly 15% lower than the estimated price. The original owner entered the market with 12 million yuan in April 2018, and now has a book loss of 1.55 million yuan; taking into account the actual loss of more than 2.22 million yuan, he left the market.
The price per sq.
On the first-hand side, CR Land (Overseas) and Poly Properties (119) co-developed the Kai Tak Runway District Xinpan Yujing launched a tender for 118 units last week. In the past two days, 3 units were sold in a row over the past weekend. About 120 million yuan was cashed out. Among them, Room A on the 12th floor of Block 8, separated by three rooms, has a usable area of 1,525 sq. Room A on the building, with three rooms and a usable area of 950 sq. ft., including a parking space, was sold for HK$36.5308 million, or HK$38,453 per sq.
Originally published on AM730 https://www.am730.com.hk/Real Estate/Top Ten Housing Estates Weekend 9 Transactions-Whampoa Three Houses Lose Two Goals/348784?utm_source=yahoorss&utm_medium=referral
