Hong Kong's Wen Wei Po (Reporter Fong Choi Yan)Due to the fact that the spicy trick have been settled,the watching atmosphere of the market sentiment have gradually dispersed,coupled with the new properties have discounted the price,so the second hand properties have discounted the price in order to increase the sentiment of buyers to buy the properties.According to the four major agency statistics,just this past weekend and Sunday (8th and 9th ),the top 10 property transactions have surged by the 75%-167% by week,recorded the transactions of 14-18.
According to the announcement,Centaline Top-Ten housing estates have recorded 16 transactions on weekends,which rose 129% by week,of which six of the the top ten housing estates have recorded tradings, Mei Foo Sun Chuen and City One in Shatin have recorded five tradings respectively.Ricacorp Top-Ten indicators housing estate have recorded 18 transactions last weekend,which rose 80% by week.Hong Kong home top ten housing estates have recorded 16 transactions over the weekend and increased 167% by week.As for the Midland Realty statistics,last weekend 's top ten blue chip housing estates have recorded about 14 transactions,rose 75% when compared to 8 transactions which recorded last week.
New properties have driven the buyers come back to the second-hand property market
Centraline Asia-Pacific president,Chan Wing Kit refers to the residential property market is a foregone conclusion,so the buyers will have a more clear direction,coupled with some large housing estates have taken the lead to discount the price,so the second-hand property tradings have shown a situation of 'the price fell and the transactions rose'recently.Into March,the developers of the new properties in the districts have launched out the sales which stick to the market price and offers a number of discounts,although it have grabbed most of the purchasing power of second-hand properties,but also contributed to the buyers from first-hand property market to visit the second-hand properties nearby.
Chief Executive Officer of Residential Department of Midland Realty Pu Siu MIng said that due to the fact that the haze of spicy trick and delisting hike of the interest rate gradually dispersed,coupled with the developers increased a reduction on the prices of the new properties,so that it cause the owners of second-hand properties have softened the asking price in order to attract the prospective buyers who think that the high property prices and finally can visit the properties with the budget in line,so the buyers and sellers have breakthrough the 'tug of war'.But despite of there must have buyers to undertake the properties with discounted prices in recent,after a rally,the purchasing power will be weaken,so as for the long-term transaction volume will still need to depend on the attitude of owners.
The second hand properties discounted the prices have become a trend,Midland Realty branch sales manager Wu Fai Ying said that the properties with high quality have also need to follow the trend and there are buyers who are living the district are intended to buy the properties with the lower prices,the three-bedroom unit which have transacted recently was located in Flat H,Lower Floor,Riviera Garden,the owners have discounted HKD $620,000 of the price and finally sold in HKD $4.38 million which recorded 50% lower than the market price.the unit with a saleable area of about 579 feet,the owners have launched out the unit for sale for months,see the developers have started to discount the price,so he is willing to follow the trend,with the original asking price of HKD $5.0 million and then finally discounted the price to HKD $4.38 million and sold, equivalent to about HKD $7,565 per sq.ft.The buyers are living in the same area who wanted to change their flats,which bought it for personal home-use.
The trend of sale have flocked to the HOS properties,the Centraline branch manager Wong Dak Hung said that HOS Wang Fuk Court Tai in Tai Po have recorded the first transaction of this month,the transaction unit located in Room 4,Upper Floor,Tower E,Wang Fuk Court,with 447 square feet of usable area,two-bedrooms interval,the original asking price of the owners was HKD $3.35 million,after bargaining,the owners have discounted HKD $400,000 of the price or 12% to HKD $2.95 million
and changed hands,with an average price of HKD $6,600 per sq.ft.The new buyer was a first-time buyer who are living in the same area in order to buy the unit for their own home-use.The original owners in 2003 bought the unit in HKD $700,000 as a free market price,hold stocks for about 11 years and sold the unit this time with a profit of about HKD $2.25 million,the unit appreciated by about 3.2 times.
The district which have the trend of discounted price have recorded buyers buy on weakness
The properties with the price of HKD $2.0 million have also increased in the property market,Midland Realty branch sales manager Mak Lik refers to the two-bedroom unit which transacted recently was located in Flat A,Middle Floor,Yau Ming Building,Kwai Chung,because of the building with a larger age,with a salable area of approximately 347 sq ft,two-rooms interval,coupled with the owners inherit the proceeds of the unit,so the bargaining space was much larger and finally transacted in about HKD $1.96 million,the low barriers are a rare situation of the market.The discounted price of approximately HKD $5,648 per sq.ft and the buyer was a home-user.
On the other hand,HKP Branch Sales Manager Chung Ka Fai said that the unit which have transacted recently was located in Flat G,Upper Floor,Tower 7,Liberté,the West of Kowloon,the original asking price of the owners in last November was HKD $6.3 million adn recently reduced the asking price to HKD $6.18 million,after negotiation,the unit eventually sold in HKD $5.93 million.The unit with a saleable area of about 522 sq ft,two bed-rooms interval with a interior garden view,with an average price of about HKD $11,360 per sq.feet.Original owners bought the unit in about HKD $2.299 million in June 2002,the transaction this time with a book profit of about HKD $3.631 million,property appreciation of about 158%.
