"Interest" stunned to shrink Tseung Kwan O Chung 300 discounted offer

28Hse Editor  2022-08-16  #Transaction

The interest rate hike in the United States has softened the minds of homeowners, and a large number of discounted listings have emerged in the New Territories, in order to sell as soon as possible in the market conditions of Hong Kong's benchmark housing estates. An agent revealed that there are at least 300 property owners in Tseung Kwan O who are willing to lower their prices or take the initiative to lower their prices. Among them, the 3-bedroom units in the middle floor of Haiyue Mansion have dropped by 1.88 million yuan, and changed hands at 8.1 million yuan, which is a new low of 13,455 yuan per square foot this year. ◆reporter Li Zitian

Liu Zhuohao of Midland Real Estate revealed that the newly recorded room C in the middle floor of Block 2 of Haiyue Haoyuan changed hands at a reduced price, with an area of 602 square feet and a 3-bedroom design. Court new low. The above site was put on sale in December last year, with an asking price of 9.98 million yuan, until the price was reduced twice in May and June this year, and finally changed hands with a cumulative reduction of 1.88 million yuan. The original owner purchased it for 5.7 million yuan in 2013, and the book still made a profit of 2.4 million yuan.

Lingdu high-rise large units decreased by 11.7%

Lau Cheuk-ho pointed out that in Tseung Kwan O, almost all the properties that can be inspected in Tseung Kwan O now have price reductions, ranging from 5% to 8%, involving at least 300 second-hand listings. For example, Room D in the middle and high-rise buildings in Block 5 of Azure Bay, with an area of 507 square feet, the asking price was reduced from 9 million yuan to 8.3 million yuan, a decrease of about 7.8%; , the asking price was reduced from 12.8 million yuan to 11.3 million yuan, a decrease of 11.7%.

The continuous increase in US interest rates has greatly increased the pressure on Hong Kong to raise interest rates. In addition, the first-hand new projects are rushing to the beach at low prices, resulting in the second-hand market being attacked on both sides. Both volume and price are affected by negative factors. According to the data of Lijia Court Real Estate Research Department, the weighted average price per square foot of 50 benchmark housing estates in Hong Kong continued to decline in July, down 0.3% from the 14,934 yuan in June to 14,887 yuan, the lowest in the past four months. It was also the second lowest for the year. As for the first seven months of this year, property prices fell by 3.07%, and compared with the historical high in August last year, they fell by 5.29%.

Taking a closer look at the property prices in the three districts of Hong Kong in July, the weighted average price per square foot of 8 benchmark housing estates on Hong Kong Island bucked the trend and rose by 2.3% to RMB 18,479. The average price per square foot of 21 benchmark housing estates in Kowloon fell 0.7% to $15,884. As for the 21 benchmark housing estates in the New Territories, the average price per square foot fell the most, down 1.0% month-on-month to HK$12,724.

Half of property prices in benchmark housing estates fall

Among the 50 indicator housing estates included in the watch list, 25 housing estates reported a drop in property prices last month, accounting for 50% of the overall rate, and 25 reported an increase.

Among them, housing estates that recorded a more significant drop in real property prices in the last month included Hung Hom Waterfront South Shore, Ma Wan Park Island, Yuen Long Yoho Town and Tai Po Taihu Garden, which recorded 8.7%, 8.2%, 6.1% and 6.1% respectively. real decline. To sum up, the transaction volume of the 50 benchmark housing estates in Hong Kong fell by another 8% month-on-month in July, and only 386 cases were recorded, which was a 35-month low of consecutive declines in March.

Disclaimer: All wordings and pictures which indicated 28HSE editor are the copyright of 28HSE LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that 28HSE agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

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