(By Chau Hiu-ching)
Developers actively had promoted the property sales before the lunar New Year. The response to Henderson’s new project The Richmond in Robinson Road, Midlevels West, Hong Kong Island is active, and over 1,300 person-times visited on weekend as of 6:00 pm last night, temporarily collecting more than 250 applications, an over-subscription of more than 7 times based on the launched units. The first-hand property sales also drive up the second-hand property market. According to the data, four leading agents had recorded double-digit transactions in ten leading housing estates on the past weekend (18th and 19th), reaching a record of double-digit transactions for two consecutive weeks.
Henderson expresses, all 30 units in the first price list of The Richmond will be put on sale next Tuesday, and the application will be closed at noon this morning, also draw lots will proceed 3:00 pm of the same day, the result of which will be sent to potential buyers through Henderson Housing App. Besides, the sales of the same series of project One.ArtLane in Hong Kong Island West is ideal, with 4 units being sold on the weekend.
Potential buyers take the opportunity to enter the market.
In the past weekend (18th and 19th), Centaline had recorded in ten leading housing estates with 12 transactions, an increase of 20% weekly and a two-week continuous increase, reaching a new high of nearly 12 weeks. The Asian Pacific Region Vice Chairman and Residential Department President of this company, Chen Wing-kit analyzes, driven by the first-hand property sales, many potential customers returned to the second-hand property market, and buyers seized the opportunity to enter the market before the lunar New Year. Buyers recently actively bid afraid of price increase in the boom market that may appear after the lunar New Year.
The Chief Executive Officer of Residential Department of Midland, Po Siuming believes, besides the ideal first-hand property sales driving the second-hand property sales, the signing of the first stage trade agreement between China and the United States to drive the performance of the stock market, as well as the launch of a series of measures to improve people's livelihood by the Hong Kong government, will help the market restore confidence and improve the overall atmosphere. This company had recorded 13 transactions in the ten leading housing estates on weekend, and the number still maintained at double-digit level although it had decreased by about 13.3% by week.
The booming market may continue until after the Spring Festival.
Other agents are also optimistic and predict that the property booming market will continue after the lunar New Year. The President of Ricacorp Properties, Liao Wai-keung predicts, the property trading during the lunar New Year would be dull for a short time and the trading will return to the normal after the sixth or seventh day of the year when both the buyer and the seller returning to the market as the improving of the social atmosphere, also the accumulated purchasing power from users and investors in the past six to seven months may rush to the market, so it is expected that the market will be booming after the lunar New Year. This company recorded transactions in the ten leading housing estates on weekend with 11 cases, which were flat weekly.
Several branches in Hong Kong Property have reported an increase in the number of house visiting. For example, the senior co-director of the Metro Town branch, Tseung Kwan O of this company, Choi Tak-lai expresses, the number of house visiting in the area has increased by 20%, and the transactions in Ocean Shores so far this month had been recorded of 9 cases, a considerable increase compared with 5 in the same period last month. The transactions in ten leading housing estates on weekend through Hong Kong Property although had decreased by weekly 17% to 10 cases, sill have maintained in double-digit level for two consecutive weeks.
