(Journalist Chau HiuChing)
The government announced new stricter epidemic prevention measures to restrict the gathering of more than four people. The reduction of citizens' going out reduces the houses visiting activities in some areas, but the performance in the second-hand property market remains sound. According to the data of the four major agencies, they had recorded the transactions in ten leading second-hand indexing blue-chip housing estates on the past Saturday and Sunday (28th and 29th) by respectively 4 to 15 cases, which did not show a sharp drop compared with the previous week.
Centaline still recorded 15 transactions in ten leading housing estates.
Centaline Property had recorded 15 transactions in ten leading housing estates the past two days, down by 2 weekly, but the number still maintains at a double-digit level. The Asian Pacific Region Vice Chairman and Residential Department President of Centaline, Chen Wing-Kit, explained that many users do not want to miss the opportunity of purchasing bargains during the property prices downturn and the continued low-interest-rate environment, although the COVID-19 epidemic has brought another shock to Hong Kong. So, they are also willing to go out to visit houses under sufficient defensive measures.
Midland also recorded transactions in ten leading blue-chip housing estates of 15 cases, a decrease of 2 weekly, and double-digits for 7 consecutive weeks. The Chief Executive of the Midland Real Estate Residential Department, Po Siuming expresses that although the new gathering restriction of over four people has affected the house visiting activities, it does not hinder citizens' enthusiasm for entering the market. Owners' softening on prices brings many users to enter the market. Besides, the market focuses on the second-hand property since there has been no new first-hand property recently in the market. Thus, the fall of the second-hand property transactions on the weekend is not too big. He also believes that as soon as the COVID-19 epidemic improves, the property market transactions are expected to rebound with the outbreak of purchasing power.
Hong Kong Property urges relaxing strict measures as soon as possible.
Ricacorp and Hong Kong Property recorded transactions in ten leading housing estates each by 11 and 4, a decrease of 1 case and no change, respectively. The Chief Executive Officer of Hong Kong Property, Lee Chi-Shing, expresses that the current economic activity in Hong Kong still depends on the impact of the epidemic. He suggests that the government immediately formulate a timetable for relaxing the strict measures to stabilize the development of the property market and avoid a further "hard landing" of the property market.
