Chongyang property market is quiet, only 4 new projects were sold
Wenwei  2022-10-05  New Properties 

With the haze of interest rate hikes looming, the property market trading was quiet yesterday during the Chongyang holiday. Only about 4 transactions were recorded for new properties, of which 3 units were sold for auction in the second phase of Wetland Seasons Bay. The construction price of a 3-room house in City One Shatin, a blue-chip housing estate, has fallen below 6 million yuan, with a square foot price of only 12,528 yuan. The agent expects that about 65,000 total building sales and purchase contracts will be registered throughout the year, which is expected to be a record low. ◆Hong Kong Wen Wei Po reporter Zeng Yejun

About 4 transactions were recorded for first-hand and new projects yesterday. Phase 2 of Wetland Seasons Bay, a subsidiary of SHKP, sold 3 units in the form of tender, with a total cash value of about 40.723 million yuan.

3 units sold at WSB Phase 2 auction

The units sold were Unit B on the ground floor of Villa RV2, with a usable area of 1,121 square feet and a garden of 669 square feet. The transaction price was 15.256 million yuan, or 13,609 yuan per square foot. Villa RV1, Basement B, with a usable 1,121 square feet and a garden of 665 square feet, was sold for 15,199,600 yuan, or 13,559 yuan per square foot. In addition, Unit C on the 1st floor of Villa RV3 has a usable area of 757 square feet, with a construction cost of 10,267,350 yuan and a square foot price of 13,563 yuan.

Henderson Fanling ONE INNOVALE Bellevue sells another unit, which is Room 25 on the 5th floor of Block C, with a usable 386 square feet. The transaction price is 5.6469 million yuan, or 14,629 yuan per square foot. The project launched the second round on Sunday (2nd) of 143 units, but only 47 units or 32% were sold.

The second procedure is now a low price transaction

The second-hand market continued to record low-price transactions. Huang Jinhan, assistant co-director of Midland, said that there was a case of 3-room households falling below 6 million yuan in Shatin City No. 1. Room B on the lower floor of Block 1 of the housing estate, with a practical use of 451 square feet, was put on the market for 3 months. The transaction was reduced from 6.5 million yuan to 5.65 million yuan, and the square foot price was 12,528 yuan. The unit E of the same area on the lower floor of the same block cost 6.4 million yuan in November last year, or 14,191 yuan per square foot, reflecting that the property price of similar units has dropped by more than 10% in recent years.

The properties in Tseung Kwan O, which were highly sought after by the market earlier, have also recorded low-price transactions recently. Wu Jinji, the sales director of the Central Plains Senior Division, pointed out that the lower-floor B room of Block 3, Tianjin Phase 1, with a practical use of 873 square feet and a three-bedroom suite, changed hands at 15.13 million yuan, and the square foot price was 17,331 yuan, compared with the same block of 862 square feet in July. Lower-level Room A costs another $8,000 less. In addition, Midland Assistant Regional Manager Fung Kin-ming said that the low-rise unit in Block 30B, PARK YOHO Genova, Yuen Long, with a usable 477 square feet and a platform of 174 square feet, was sold at a split price of 530,000 to 6.55 million yuan, or 13,732 yuan per square foot. He has been in charge of goods for more than 5 years, and he only earned 303,000 yuan on the book. After deducting miscellaneous expenses, he is expected to leave the scene almost evenly.

Huang Liangsheng, senior co-director of Centaline Research, pointed out that in the first nine months of this year, 47,886 building sales contracts were registered with a total value of 465.93 billion yuan, down 36.6% and 34.0% respectively compared with 75,568 and 705.69 billion yuan in the same period last year. Among them, 25,383 second-hand registrations were registered, involving capital of 226.29 billion yuan, down 40.1% and 41.3% year-on-year respectively; 8,968 first-hand registrations, with a total value of 98.89 billion yuan, fell 30.1% and 44.9% year-on-year respectively.

The overall transaction price and volume of the property market fell in the first nine months

He estimates that about 65,000 overall property sales and purchase registrations will be recorded this year, which would be a 27-year low since records began in 1996, breaking the previous record of 70,503 in 2013. It is expected that the number of second-hand cases will be about 34,000 this year, which will hit a 27-year low;

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