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Hong Kong Property Market - Yr.2020 Oct: Average price per sq feet $11600 0.03%   (last month:$11597)
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No fear of fighting the epidemic, selling 209 units in new markets in two days

2020-08-03-(Mon)
【28Hse.com】  

Hong Kong Wen Wei Po (Reporter Zhou Xiaojing) Hong Kong has recorded more than 100 confirmed cases of new coronary pneumonia for 12 consecutive days. However, the epidemic and the No. 3 typhoon signal can hardly repel the public's enthusiasm for buying properties. The Qingshan Bay Section of Tuen Mun, which was jointly developed by the Empire Group and Hong Kong Ferry, was developed by Imperial Group. The 185 units of Golden Bay (Emperor Phase 1) were all sold out, and about 870 million HKD was cashed out. The results are quite good. According to market data, over 209 new properties were sold in Hong Kong on the past Saturday and Sunday.

On the past Saturday, under Typhoon Signal No. 3, Emperor Yu. Jinwan launched 185 units for sale, and the average attendance rate of guests reached 80%. By 7pm, all units were selected for "one-Q clearing". Lin Damin, general manager of Henderson Agency Sales (1) Department, revealed that Emperor Yu. The unit with the highest transaction price in Golden Bay was Unit 19 on the 18th floor of Tower 3, with a transaction price of approximately RMB 7,188,500; the unit with the highest transaction price per square foot was Unit 07 on the ground floor of Tower 3, with a transaction price of approximately RMB 17,035 per square foot.

The younger brother bought the Emperor over 7 million yuan. Golden Bay Two Groups

Buyers Mr. Huang and Ms. Huang are the two elder brothers. Mr. Huang said that they live near the wharf area in Tuen Mun. They said that they spent 4 million and more than 3 million to buy a house and open-plan self-occupation, which is the first time home buyers. Mr. Huang believes that the location of the property is good, and there are buses downstairs to reach the city.

Ms. Jing, who was accompanied by her mother, also said that she lived in the Gold Coast with her family and spent 3 million to buy an open-ended house for investment. She only undertook about 30% of the mortgage. The project is adjacent to the Gold Coast clubhouse and is open 24 hours. Stay in the hotel."

29.68 million of featured households on KOKO HILLS platform

KOKO HILLS in Mid-levels of Kowloon East also recorded a large-scale transaction. Yesterday, the first and second floor C units of Block 2 were sold through tenders with special flats on the platform.The unit is a 4 bedrooms, 1 set plus workshop and bathroom with a saleable area of 1,211 square feet and a 509-square-foot platform. It was sold for 29.68 million HKD and the price per square foot was 24,509 yuan. It is understood that the guest is from Kowloon and hopes to purchase a large unit for self-occupation and improve the quality of life of his family.

Top ten housing estates have two-day trading volume low in half a year

However, the second-hand property market has been suppressed by the severe epidemic. The top ten blue-chip housing estates sold by the major agents over the weekend and two days were few and the transaction volume hit a six-month low. HK Land recorded a total of 2 transactions in the two days, a 26-week low; Centaline and Midland Group both recorded 5 transactions, and the transaction plummeted while recording a six-month low; Ricacorp dropped 42% weekly to 7 second-hand transactions, which was nearly It fell below the double-digit level of 10 cases for the first time in 8 weekends, returning to the level of early February this year.

Chen Yongjie, Vice Chairman of Centaline Asia Pacific and President of Residential Department, believes that the performance of the new real estate market is relatively good. In view of the developer’s comprehensive and systematic anti-epidemic arrangements, large new real estates went on sale in Tuen Mun just last Saturday, and the first batch of units sold immediately. Clearly, it can be seen that the market is still strong. However, many owners of second-hand real estate declined to open their doors for inspection. Coupled with squalls and rains for several days, the typhoon signal No. 3 was high on the last Saturday, which weakened the public's desire to inspect the property, resulting in weak second-hand transactions on weekends. He believes that after the epidemic is under control, the property market will rebound rapidly.

Owners expand the property price or adjust slightly

Bu Shaoming, CEO of Midland Realty's residential department, also said that the third wave of the epidemic in Hong Kong has further tightened the gathering restriction to two people. Second-hand property viewing activities will be immediately affected. In addition, new properties were launched and sold at the weekend. The response was satisfactory and it robbed the market of a lot of purchasing power. He revealed that the low interest rate environment in Hong Kong continues, market funds are abundant, and the rigid demand for home ownership has not decreased. Some prospective buyers are looking forward to the increase in price reduction properties in the "epidemic market", so they are still actively exploring the market through telephone and online platforms. Individual customers The deeper bargaining range has led to a stalemate in the sale. It is expected that as more property owners expand their negotiation space, it is expected that property prices will have slight adjustment pressure, which will attract buyers to speed up the market.

Translated by 28Hse.com . All right reserved.