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Boom Market Is Only A Flash; CCL Fell Again.

Image Caption
Visiting appointments on weekend increase. Agent predicted it comes into hot season.

Hong Kong Wen Wei Po (By Li Zhitian)

Hong Kong second-hand property price had rebounded for two weeks before the Lunar New Year which was called “ Little Boom Market”, but the rising trend didn’t maintained, leading a repeated market trend. All the latest four property price indexes decreased, with Centaline CCL down again to 169.95 by weekly range of 0.54%, announced by Centaline Property yesterday. In addition, the Midland property price index also fell back to a latest 158.45 points, down about 0.2% per week. In this regard, the transaction will return to normal after the Spring Festival, and the property market is expected to enter the hot season, the Central Plains Real Estate Research Department believed.

The four major indexes of Centaline fell. CCL reported 169.95 points, down 0.54% per week; CCL Mass, the Centaline leading index of large-scale housing, fell 0.57% to 170.86 points; CCL (small and medium-sized units) reported 169.45 points, down 0.62%; CCL (large unit) reported 172.44 points, down 0.15%. The company believed it will down repeatedly until a bottom level, but it is different from the previous decline.

Index in New Territories West fell 1.51% weekly, which was the worst.

In districts, Hong Kong Island CCL Mass reported 177.60 points, down 0.33% per week; Kowloon CCL Mass reported 166.74 points, down 0.74%; New Territories East CCL Mass reported 177.54 points, up 0.73%; New Territories West CCL Mass reported 154.46 points, down 1.51%. The indexes in two districts of New Territories has been up and down in the past three weeks, the company pointed.

As the New Year is approaching, The number of transactions reduces as the Lunar Year is approaching, and CCL will continue to up and down in the next few weeks until a bottom level, while it is believed the transaction will return to normal after the Spring Festival, leading the property market into the seasonal hot, then the CCL may rebound, besides Hong Kong and Kowloon urban property prices are expected to take the lead to hit the bottom, the Associate Director of the Centaline Research Department, Huang Liangsheng expressed.

The Midland property price index has fallen by 1.6%.

In addition, the Midland property price index also fell back, with the latest reported 158.45 points, down about 0.2% per week and 1.51% more than four weeks ago, which has declined about 1.6% since the beginning of the year and about 10.25% since last August when it was in high level of 176.54.

Ricacorp: Purchasing power waits for the time.

Facing the repeated second-hand property price, the agent expected more buyers will enter the market for quality house after the holiday. The visiting appointments for 50 leading housing estates after the Chinese New Year holiday increase sharply, the Research Department Director of Ricacorp, Chen Haichao expressed. 1,225 groups of visiting appointments for Hong Kong 50 leading housing projects on this weekend are registered, rising 2.5% by week, according to the data of the research department of Ricacorp. Optimism continues, and many potential buyers are waiting for the time. It is expected that the factors of the New Year holiday will gradually disappeared, and the second-hand transactions are expected to return to normal.

Visiting appointments in each district on weekend increase.

In districts, the number of visiting appointments on weekend for leading projects in Hong Kong three districts rises. The increase in the New Territories among is the highest, which is 540 cases or 2.9% by week. 210 groups of visiting appointments for leading projects in Hong Kong Island on weekend were registered, up by 2.4% per week. 475 groups of visiting appointments for leading projects in Kowloon on weekend were registered, up by 2.2% per week.
Translated by 28Hse.com . All right reserved.