(Journalist Ngan Lun Lok)
The epidemic has eased, stimulating the rebound in the property market. Centaline announces that all ten leading housing estates in the past two days had recorded transactions, with a total of 31 cases, an increase of 41% weekly, and it also hit a seven-year high since May 2013. South Horizons even had many customers competing for houses. Industry analysis shows that there have been no local infection cases in Hong Kong for 14 consecutive days, leading an improved market sentiment and resumed economic activity, as well as a strengthened buyers' mentality of entering the market. The multi-day holiday also boosts property market trading.
The APAC Vice President and Residential Department President of Centaline Property, Chen Wing-Kit expresses that, as the epidemic continues to ease, citizens predict the epidemic to be controlled gradually and widely believe the property price had reached the bottom. So, they speed up the purchasing to avoid an increasing price. According to the company's statistics, the second-hand property transactions among ten leading housing estates in April were 329, a 13-month high.
Many customers compete to buy a two-bedroom unit of South Horizons.
One unit of South Horizons, Ap Lei Chau, was competed by many groups of customers. Lam Jeon from Midland expresses that a high-rise Room C in Block 26, which is a two-bedroom unit in 516 sq ft, with the original price at about HKD8.6 million, was popular among many groups of customers and received many offers. It was finally sold to a user from Kowloon East for HKD8.58 million, leading the sq ft price to HKD16,628. The original owner bought the unit in May 2012 for about HKD5.08 million and earned the book profit of about HKD3.5 million or 69%.
According to the statistics of Midland Branches, there were 72 transactions from ten leading housing estates during the four-day holiday (April 30 to May 3) for the Buddha 's birthday and Labor Day. About 32 cases were recorded on Saturday and Sunday, increasing 23 cases or about 39% from that in the previous weekend, and it is a new high over seven years. The Chief Executive of the Midland Real Estate Residential Department, Po Siuming describes the purchasing power explosive increases after accumulating for a specified period.
Agents are optimistic about explosive growth.
In the past weekend, Ricacorp Properties recorded second-hand property transactions in ten leading housing estates with 30 cases, a sharp increase of 58% compared with 19 cases last weekend. Liao Wai-Keung, the President of Ricacorp Properties, expresses that there will be first-hand housing estates being launched this month. Then the booming first-hand property market will also drive the increase in second-hand property transactions. The mutual promotion of the two will create hot trading in the overall property market.
The Chief Executive Officer of Hong Kong Property Services, Lee Chi-Shing expresses that house viewing activities in general blue-chip housing estates increase by about 20%, and buyers' pace of entering the market has accelerated significantly with the gradual rebound of the property market. Many first-hand housing projects may be launched in May, stimulating the overall market sentiment. It is believed that the first and second-hand property trading would further warm-up. According to the company's statistics, the transactions in ten leading housing estates on the weekend were 24 cases, up nearly 118% weekly.
