Hong Kong Wen Wei Po (Reporter Zhuang Chengmin) The new crown pneumonia epidemic is showing signs of easing, coupled with the lack of new real estate for sale, stimulating the recovery of second-hand transactions. The four major agencies and the ten largest housing estates recorded 7 to 20 second-hand transactions in the past weekend. Among them, the top ten housing estates in the Central Plains recorded 20 transactions in the past two days, an increase of 42.9% on a weekly basis, and recorded an increase for two consecutive weeks, reaching a 14-week high.
Chen Yongjie, vice chairman and president of the residential department of Centaline Properties Asia Pacific, said yesterday that there were no new properties for sale in the market during the past weekend. With high rigid demand and the continued low interest rate environment, sales of new properties in the New Territories were quite satisfactory earlier. Some customers began to return to the second-hand market, the trading of real estate on vehicles in the New Territories turned brisk, and mid-priced properties on Hong Kong Island and Kowloon were also accepted, and the trading was developing steadily.
High-needed second-hand transactions expected to continue to stabilize
Midland Realty Branch’s top ten blue-chip housing estates recorded 20 transactions in the past two days, an increase of approximately 33.3% on a weekly basis. While maintaining a double-digit level for two consecutive weeks, it also set a new weekend high for nine. As for the 15 largest housing estates, 25 transactions were recorded in two days, an increase of about 47.1% weekly. Bu Shaoming, Chief Executive Officer of Midland Realty's Residential Department, said that the Hong Kong property market has experienced the impact of trade wars, social incidents and pneumonia for two consecutive years. The property market was once quiet, but at the same time purchasing power has been accumulating, and it has steadily broken out in recent months. Recently, the number of confirmed cases has decreased, and local rigid demand is still hot. As property prices still have room for short-term downward adjustment, and there is no large-scale new real estate for sale, second-hand transactions are expected to maintain a certain level.
In the past weekend, Ricacorp recorded 18 transactions in the top ten index housing estates, an increase of about 38% on a weekly basis and a record high in nearly eight weeks. In the past two days, Hong Kong Land Development’s top ten blue chip housing estates recorded 7 transactions, a decrease of 2 on a weekly basis.