Hong Kong Wen Wei Po (By Li Zhitian)
The second-hand property trading continued to be suppressed. Buyers were not willing to enter the market. Only sellers who provide relax price were well-received. Villa Esplanada in Tsing Yi had zero transaction within three months. And one unit in layout of two rooms was finally sold in HKD 8 million with a price cut of HKD 0.6 million after being put on sale for one month; While Tsuen Cheong Centre in Tsuen Wan registered one unit in layout of two rooms was sold in HKD 4.18 million after price cut in nearly 20%. Monte Vista in Ma On Shan has unit being sold in usable sq ft price of HKD9,593, falling to below HKD10,000.
Unit in Villa Esplanada was sold in HKD 8 million, after bargaining by 7%.
Under the turmoil of Sino-US trade wars, the trading atmosphere in recent days has been flat, and more and more owners in the New Territories West reduced prices, driving the transaction increased. A latest transaction was Room D in the middle floor of block 1 in Villa Esplanada of Tsing Yi, which is in usable area about 537 sq ft and in layout of two rooms, Peng Jintian from Ricacorp expressed. This unit was put on sale about a month ago in original price of HKD 8.6 million, and finally was sold in HKD 8 million after price cut of HKD 0.6 million or about 7%, with discounted sq ft price in about HKD14,898.
The above was the first transaction in Villa Esplanada for three months, and currently there are about 18 units being put on sale with the lowest price in about HKD 8.3 million, Mr Pang also said.
Two rooms unit in Tsuen Cheong was sold in HKD 4.18 million, in price cut of 18%.
Tsuen Cheong Centre in Tsuen Wan recently recorded a sale of Room C at the lower level of Cheung Ling Mansion, which is a two rooms unit in usable area of 316 sq ft, and the original house owner asked for HKD 5.1 million in November, while just sold it in HKD 4.18 million, with price cut in HKD 0.92 million or 18% and the usable area sq ft price is HKD 13,228, Chen Wenjie from Centaline expressed. Prospective buyers decide to purchase it for own occupation after visiting and seeing the property price is reasonable. The original owner gained book profit in HKD 3.835 million or 11 times after holding the unit for 30 years.
The Beaumount II has sold one unit after total price cut in more than HKD 1 million.
In the New Territories East, the Beaumount II in Tseung Kwan O had recently recorded a transaction in high-rise Room D of block 1, which is in usable area of 747 sq ft and in layout of three bedrooms and one suite, Wu Jinji from Centaline pointed. It had been put on sale for a long time and finally was sold in HKD 8.7 million after total price cut of HKD 1.1 million for seven months since May when it asked for HKD 9.8 million, and the usable area sq ft price was HKD 11,647. The Beaumount had temporarily recorded 4 transactions so far since this month, which was the same to trading volume in last month, and the average sq ft price was around HKD 11,726 , Wu Jinji added.
Monte Vista in Ma On Shan latest recorded one transaction, which was room A in high level of block 9 in usable area of 963 sq ft and in layout of three rooms, Zheng Dacang from 21st Century Qifeng Property expressed. This unit was asked in HKD 10 million 2 months ago when it was being put on sale, and the final price was HKD 9.238 million after price cut in total of HKD 0.762 million, with usable area sq ft price in HKD 9,593.
As for the HOS market, many buyers are waiting for the supply of new HOS flats next year. Owners still need to provide a large price cut before any transaction being achieved. Kam Fung Court in Ma On Shan latest sold room 6 in high level of block E by price cut, which is in usable area of 431 sq ft and in layout of two rooms, Zhuang Ruisheng form 21st Century Qifeng Property expressed. The original owner asked for HKD 6.5 millions 2 months ago, and it was finally sold in HKD 4.9 million (free market) after price cut of HKD1.6 million or 24.6%, with usable area sq ft price in HKD 11,369.