2024-04-30 28Hse Editor
The Federal Reserve announced a 0.75% interest rate hike last week, but the Hong Kong dollar prime rate (P) did not follow suit. The new market is still booming, with 252 transactions recorded in two days. The Phase 1 of Silicon Hill at SHKP Pak Shek Kok was in the third round of sales this past Saturday. 110 units were put up for sale in the form of price lists, and they were all sold out on the same day. The developer announced to add 58 units, with an average square foot price of about HKD 18,147.
Silicon Hill adds 58 units
Lei Ting, deputy managing director of SHKP, said yesterday that due to the large number of customers, 58 units were added to the market, and the price of a small number of units was slightly increased by 1% to 2%. Hu Zhiyuan, the acting general manager of SHKP, said yesterday that the newly launched 58 units have a usable area of 217 to 578 square feet, ranging from studios to three-bedrooms. After deducting the maximum 17.5% discount, the discounted unit price will be from 3.848 million to 10.035 million. RMB 17,079 to RMB 19,773 per square foot. The admission unit is Room A5, 2/F, Tsui King Court, Block 2, with a usable area of 217 square feet, open partitions, and a price of about RMB 17,333 per square foot.
Top 10 housing estates saw a sharp drop in transactions
In terms of second-hand buildings, the number of transactions in the top ten housing estates of the four major real estate agencies was only 5 to 9 in the past weekend, and only 5 transactions in the top ten housing estates of Centaline Property, which fell by 28.6% week-on-week, and the transaction volume hit a 15-week high. New low, as many as 5 housing estates with zero transaction. Chen Yongjie, vice chairman of the Asia Pacific region and president of the residential department of Centaline Properties, said yesterday that the market has been flooded with negative factors recently. First of all, the epidemic situation in Hong Kong has been repeated again and again, and the daily number of confirmed cases has returned to 1,000, which has caused the public to worry again. Secondly, under the impact of interest rate hikes in the United States, the cost of buying properties for buyers has increased. It takes time for the public to digest the news and rebuild their confidence in entering the market. Third, more than 200 transactions were recorded in the first-hand and new-market transactions in two days, reflecting the effectiveness of the price-setting of new-market shares, which can attract buyers to enter the market, and the purchasing power of the market will flow to the first-hand market.
According to the statistics of Midland Property Branch, only 9 transactions were recorded in the top ten housing estates in the past two days, a decrease of 10% on a week-on-week basis. Bu Shaoming, CEO of Midland Realty's Residential Department (Hong Kong and Macau), said that in June, developers actively launched their new properties and seized a lot of second-hand customers. He believes that the Federal Reserve has raised interest rates to suppress inflation, and the best interest rate of Hong Kong banks has not yet increased, and the Hong Kong property market has continued to stabilize under the epidemic. With the new projects in Tuen Mun and Tseung Kwan O expected to be launched within the month, the new projects continue to be hot. The SAR government is about to change its term, and the new team will be on the stage in July. The market hopes that the political and economic situation will become more stable, which is expected to bring positive effects to the property market in the second half of the year.
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