The Covid-19 epidemic in Hong Kong has dramatically improved. Four brand new projects were being put on sale on the past weekend (23rd-24th), and it is the largest scale first-hand property competition in the year. The market is worried that the legislation of the "National Security Law Related to Hong Kong Area" will affect citizens' desire to enter the market. Still, it seems to have not hindered the first-hand property sales in the past two days, and about 322 units were sold. Lui Ting, the Vice Managing Director of Sun Hung Kai, believes that "National Security Law Related to Hong Kong Area" has little effect on the property market. And developers are confident about the future market due to the improvement of the epidemic and the low-interest-rate environment.
The sales of the new projects continue booming. Henderson put on sale the first round of 88 units of Aquila．Square Mile in Tai Kok Tsui yesterday, and 40 units had been sold as of 7:30 last night. SHKP put on sale the first round of 200 units of Wetland Seasons Park Phase 2 in Tin Shui Wai on the day before yesterday, and 194 units were sold. With the number of inventory sold in other projects, about 322 first-hand property units had been sold in the past two days.
Aquila．Square Mile sold 40 units accounting for about 45% in the first round. The General Manager of the Sales Department (2) of Henderson, Hon Ka-Fai, is satisfied with the project sales, saying that 40 units include 16 open-style units and 24 one-bedroom units. Buyers are mainly young customers, and it is estimated that self-occupancy and investment customers account for half of each.
Centaline: There is little influence of political factors.
The news of the "National Security Law Related to Hong Kong Area" shocked the stock exchange last Friday. All parties are concerned about the development of Sino-US relations. The Vice-Chairman and Residential Department President of Centaline Asian Pacific Region, Chen Wing-Kit, believed yesterday that the sales rate of Wetland Seasons Park in Tin Shui Wai on Saturday was up to 95%. It reflects the little effect of "National Security Law Related to Hong Kong Area" on the proper market. Buying property is always an economic activity, and political events have little effect on it. Yesterday, there was a demonstration on Hong Kong Island. The attendance rate of buyers in Aquila．Square Mile was about 70%. As long as the traffic is regular, buyers will attend, without much impact. A first-time buyer, Mr. Liao, pointed out that political events may affect the property market, but not on housing for self-occupation, and the effect on users is less than on investors.
SHKP: Low-interest rate and improved epidemic situation are positive on trading.
Lui Ting, the Vice Managing Director of Sun Hung Kai, expressed when attending the marketing of Wetland Seasons Park that "National Security Law Related to Hong Kong Area" has little effect on the property market. And developers are confident about the future market due to the improvement of the epidemic and the low-interest-rate environment. Wetland Seasons Park Phase 2 launched the first round of units, and sold more than 95% on the past Saturday, cashing in over HKD1.3 billion. Yesterday, it took advantage of selling well to launch the No.4 price list, including 93 units additionally. The unit prices are HKD4.862 -10.769 million, with the sq ft price at HKD13,102-19,657, and the discounted prices are HKD3.98-8.83 million, leading the discounted sq ft prices to HKD10,744-16,118.
Developers are full of confidence in the future market. Several new projects have opened their sample flats in the urban area, and more first-hand property units will be launched this week in succession. Vanke's The Campton in Cheung Sha Wan will sell 188 units on Wednesday, and EMPEROR's Central 8 will sell 68 units on this Thursday.
The Campton launched a total of 188 units on Wednesday, including 94 units on the No. 2 price list, with a price increase of about 2%. The discounted average sq ft price in the No. 2 price list is about HKD17,083, which is about 4% higher than the first price list. Developer Vanke said that the market responded enthusiastically to the project. Since the opening of the sample flat and sales office, it has attracted about 13,000 person-time visitors. The market source points out that the project had registered nearly 5,100 applications, an over-subscription of about 26 times, as of 8 o'clock last night.
The transactions in ten leading housing estates fell sharply due to the booming sales in the first-hand property market.
Affected by a large amount of supply in the first-hand property market, the second-hand property market, which had maintained a high level of trading during the epidemic, is dull. According to the four major agencies' statistics, they recorded transactions in ten leading housing estates on the past weekend with 6 to 12 transactions, a decrease of 35% to 65%, respectively, and all are the new lows in recent weeks. Besides the effect of the first-hand housing estates, the Chief Executive Officer of Residential Department of Midland, Po Siuming believes that the so-called bargain houses during the epidemic in the second-hand property market had been sold out. So, most buyers turn to the first-hand property market.
