2024-04-29 28Hse Editor
On the first weekend of September, new homes were launched for sale in Hong Kong, Kowloon and New Territories. The focus of the market was on the primary market. As a result, second-hand transactions weakened. The number of transactions was flat on a weekly basis, while Hong Kong Property fell 25%. Analysis believes that in the short term, the market will still be dominated by one hand, or the second-hand transaction will pick up only when the customers will continue to flow back.
Midland: Owners turn tough with the prosperous city
Midland and Centaline recorded 13 second-hand transactions and 12 second-hand transactions on the two trading days last weekend, all of which were flat on a weekly basis. Among them, Midland has maintained a double-digit level for 29 consecutive weekends. Mr. Bu Shaoming, Chief Executive Officer of Midland Realty’s Residential Department, said yesterday that there are new properties on Hong Kong Island, Kowloon and the New Territories. The hot sales reflect that the demand for home ownership has not diminished. Lack of orders, transactions continued to ramp up. He expects that the market will still be dominated by the primary in the short term, and the second-hand market will become tough due to the owner's bidding price following the booming market. Most of the "bamboo market" has been digested. Pick up.
Chen Yongjie, vice chairman of Centaline's Asia-Pacific region and president of the residential department, said that last Saturday, Hong Kong, Kowloon and New Territories had large-scale new properties for sale. Among them, the new properties of Wong Chuk Hang Station and Tin Shui Wai were sold more quickly. He believes that the focus of the market shifted to new properties in September. At the same time, the source of second-hand properties decreased, property prices continued to fluctuate at high levels, and landlords narrowed their bargaining space. Various factors caused buyers to turn to the primary market to find properties.
"High-priced cowhide" needs replenishment
Second-hand sales of Hong Kong homes at the weekend fell by 25% weekly to 9 transactions. Hong Kong Property Operations Director and Kowloon District Director Ma Taiyang said yesterday that the new properties have locked up the purchasing power of some areas. Coupled with the strong attitude of many owners in listing, the market has reduced the source of bamboo shoots. The volume of second-hand property inspections and transactions in some areas have slowed down slightly. "High-priced cowhide", but with the first-hand return to the second-hand market to find a good heart, the second-hand trading is expected to revive after the supply of materials can be replenished.
Compared with the remaining three real estate agencies, the number of second-hand transactions was flat or decreased on a weekly basis, while the second-hand transactions of Ricacorp during the weekend increased by 9% to 12 transactions on a weekly basis.
Richard Liu, President of Ricacorp Real Estate, explained that the current number of second-hand transactions is hovering at a low level because property prices are competing at a high level. Sellers have also raised prices recently. It is expected that the market conditions in the next one to two days will be similar, and the unit price will not be significantly higher. Volatility, the short-term market focus will be concentrated on the primary market.
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