The property market in Hong Kong is warming up, and second-hand transactions are booming during the Christmas holiday. According to the statistics of Centaline Real Estate, the top ten housing estates recorded 17 transactions in the past two days in the past weekend, an increase of 1.8 times compared with the 6 transactions in the previous weekend, and reached an 18-week high; and about 32 transactions were recorded during the 4-day Christmas holiday, even more It hit a new high in about 12 years in the same period after 2010.
Chen Yongjie, vice chairman of Centaline Property Asia Pacific and president of the residential department, said that the rate hike in the United States has slowed down, and China and Hong Kong have gradually relaxed epidemic prevention measures. The mentality has turned positive, and the pace of entering the market has also been accelerated. As there are currently no large-scale new projects launched in the primary market, mainly due to the end of goods, a lot of purchasing power returns to the secondary market. It is expected that the economy and the property market will gradually embark on the road to normal next year. , property prices are expected to successfully bottom out, and property prices are expected to rebound by 15% from the bottom 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 recorded 10 transactions during the 4-day long holiday 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 units. The original asking price was 9.8 million yuan, but it was finally accepted by the replacement tenant at 9.2 million yuan, with 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 at a loss of about 400,000 yuan on the book; and the housing estate 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 long holiday, including the high-rise room F of Hangong Pavilion, 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. Housing estates temporarily recorded 19 transactions this month, with an average usable sq. ft. price of about HK$16,214.
ONE INNOVALE-Cabanna sold 24 units during the long holiday
In terms of new projects, Henderson Land (012) Fanling North ONE INNOVALE-Cabanna sold well during the long holiday. Lin Damin, general manager of Henderson Land Agency Sales (1), said that the project recorded a total of 24 transactions during the 4th Christmas holiday , involving more than 100 million yuan, reflecting that the market’s outlook on the project and the northern metropolitan area is quite positive. The listing 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 RMB 15,481 per square foot.
Kowloon Jianye (034) Tseung Kwan O Hai Yin Manor has been completed. The price list has been updated a few days ago. 45 special offers have been added for festivals and furniture combination discounts. The discount can reach up to 20%. After discounting, 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 published on AM730 https://www.am730.com.hk/Real Estate/Property Market Recovery – Top 10 Housing Estates Christmas Transactions – The Most Busy in 12 Years / 354643?utm_source=yahoorss&utm_medium=referral