The interest rate of banks in Hong Kong continued to rise, and some large banks began to follow. The owners' desire to cut prices greatly increased, and the second-hand transaction prices continued to be under pressure. The Central Plains City Leading Index (CCL), which reflects second-hand property prices, was last at 171.83 points, down 0.8% on a weekly basis, hitting a new low of more than 3.5 years (the low of 170.87 points in February 2019). The Central Plains pointed out that property prices continued to decline steadily, and the decline showed signs of expanding. The 170-point level is a short-term support level, and it is hoped that the 170-point level can be held. ◆Hong Kong Wen Wei Po reporter Li Zitian
Huang Liangsheng, senior co-director of Centaline Property Research, pointed out that this week, the Kowloon property price index was the first to fall below the 2019 low, down 2.57 points or 1.55%. The property price index on Hong Kong Island is also approaching its 2019 low, with a difference of only 0.80 points or 0.45%. The New Territories East property price index differed by 6.66 points or 3.78%, and the New Territories West property price index differed by 10.13 points or 6.58%.
CCL short-term support is expected at 170 points
CCL reported 171.83 points, hitting a new 185-week low (the low of 170.87 points in February 2019), down 0.8% on a weekly basis. CCL fell 5.09% for 8 consecutive weeks, the decline exceeded the adjustment in 2019, and the time was 2 weeks shorter. In October 2019, CCL had a 10-week losing streak of 4.98%. Property prices continued to decline steadily, and the decline showed signs of expanding. The 170 level is a short-term support level, and I hope CCL can hold this level. The Kowloon property price index recently reported 163.08 points, a 240-week low (the low of 162.2 points in January 2018), down 2.83% week-on-week, the largest decline since September 2019 (nearly 157 weeks). The Hong Kong Island property price index was at 176.89 points, down 1.7% on a week-on-week basis, the largest drop in 20 weeks.
Kowloon property price index fell more than 7% in 8 weeks
The New Territories East Property Price Index reported 182.92 points, up 0.71% on a weekly basis. The New Territories West Property Price Index reported 164.15 points, up 1.48% on a weekly basis. In the past 8 weeks, Kowloon has fallen the most, with a cumulative decline of 7.14%, New Territories East down 4.76%, Hong Kong Island down 4.63%, and New Territories West down 3.49%.
Blue-chip housing estates continued to see significant price cuts and changed hands. Yuan Lishi of Century 21 Qifeng Property said that she recently facilitated the transaction of Room D, a high-rise building in City One, Shatin, with a usable area of 327 square feet. When the property was put on the market, the asking price was RMB 5.9 million. , a decrease of 16.6%, and the price per square foot of usable area is 15,046 yuan.
It is understood that the original owner purchased the site in January 2010 at a price of 1.838 million yuan.
In addition, Cai Bei of Century 21 Qifeng Property said that Room E on the lower floor of Block 20, Yinghai Xingwan, Ma'anshan, has a usable area of 496 square feet and is a 2-room partition. The original asking price is 8.3 million yuan. The transaction amounted to RMB 7.8 million, a decrease of 6%, and the price per square foot of usable area was RMB 15,726.
The original owner bought it for 7.84 million yuan in June 2019, and sold it after holding the goods for 3 years after the SSD period expired. The book lost 40,000 yuan, and together with the miscellaneous expenses, it lost more than 370,000 yuan and left the market.
Second-hand property inspections during the Mid-Autumn Festival fell by more than 5%
During the Mid-Autumn Festival long weekend, Miami Quay I will launch the first round of unit sales, freezing the purchasing power of a large number of people. In addition, many citizens are celebrating the festival, which will affect the property inspection activities of second-hand housing estates to a certain extent.
According to the statistics of Midland Property Branch, this weekend (September 10th to 11th), the number of reservations for property inspections in 15 indicator housing estates recorded about 443 groups, a weekly decrease of about 5.3%, and the Mid-Autumn Festival long weekend (September 10th) 12 days), a total of about 619 groups were recorded in 3 days.