Only 65 first-hand flats sold as residents flock overseas during Easter break

(Leung Yuet-kam) The large number of Hong Kong people travelling during the Easter holidays has dragged down the volume of first-hand transactions.

21 BORRETT ROAD sells over HK$150 million in flats 

The largest transaction was the sale of 21 BORRETT ROAD Phase 1 in Mid-Levels West by CK Asset, which was sold by tender for HK$153.8 million for a four-bedroom flat (with two car parking spaces). The sale of 11 units at Hoi Yin Villa, Tseung Kwan O, a subsidiary of Kowloon Development, realised over HK$53 million, while eight units at Henderson's One Innovale - Cabanna in Fanling were sold. 

On the other hand, Wheelock Properties' KOKO MARE in Lam Tin put 58 units on sale last Saturday. Ricky Wong Kwong-yiu, managing director of Wheelock Properties, said the new units range from 310 to 529 square feet in saleable area, including one- to two-bedroom units, at a discounted average price of HK$19,670 per square foot, which is the original price of the additional units. The second price list and sales round will be announced in due course. 

Hong Kong’s top ten blue-chip housing estates see transaction volumes plunge 

Second-hand transactions were also affected, with Hong Kong's top four property agents recording only seven to 23 transactions over the four-day Easter break, down from more than 50 in the previous year. Louis Chan Wing-kit, vice chairman and chief executive (Residential) of Centaline’s Asia Pacific department, said that many people travelled during the long holiday, which affected property-viewing activities, and the overall first and second-hand transactions were relatively weak.