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2nd hand transactions lower than SARS period, expects to be lower

Squarefoot Editor  2013-04-14  #Property Hit News
Article from Government spate of heavy taxes moves, individual developers discounted bank to raise interest rates, coupled with the external political and economic instability in the local property market, "there is no minimum, only lower", April the secondary market. the trading materials miserable over SARS ". According to the AP, and the Land Registry data show, the first of April the 11th Used registered only 901 fell 40.8% on a monthly basis. AP expected, the amount of second-hand property registered in April and May will continue to fall to below 3,000 cases, fear a low of 2,700 cases to "SARS during the 2,789 transactions lower than in February 2003. Licensed agent of 3.7 million projected 13 estate agents compete for a second-hand sale and purchase transactions, the agent into the knockout. Midland Realty chief analyst Buggle Lau pointed out that since April secondary trading is still low, coupled with new regulations take effect on the 29th of this month under the influence of first-hand residential sales, most developers did not dare to push the new disk, so May , used registrations fell further material registrations of 3,000 low levels. First 11 registered amount less 52% He pointed out that the closing mid-February, the Government holds a second suite double stamp duty, Block Trades significantly reduce the amount of second-hand residential registration relates only to about 3.998 billion yuan in the first 11 days of the month, on a monthly basis plummeted 52.4 %, down 40% compared to the same period registered cases more urgent and fresh. According to statistics, the first of April 11, 2009 over a thousand million used cases on a monthly basis significant decrease of approximately 66.4%, and $ 500 million to $ 10 million, down 56.1% during As for the case of 500 million or less, a decrease of approximately 31.8%, down small properties Penny. Month material property prices down 3% He also second-hand property prices fell 1% in March, nearly two weeks some owners bid also softened material in April prices will further decline of 2-3%. However, he believed that in 1-2 months, property prices fell 10-20% is unlikely, property prices in Hong Kong fell 20% within 1 month of the end of 2008 during the financial crisis, and now just a government policy to curb demand The reduction in sales volumes, some impatient owners discounts to attract buyers due to impact, but the future increase in the supply of the primary disk, the prices will come down gradually in the year the material property prices down 10%. Major blue-chip estates registrations at a very low level, the first of April the 11th Used registered the largest number of cases Kingswood Villas, only 12 registered, ranking second in Tsuen Wan Centre less than "double-digit" level, only 9 followed by the City One Shatin and Allway Gardens were recorded 7, Discovery Bay and Whampoa Garden, will have six. South low-low price of 9% Put Second-hand owners discounted continue. Ricacorp Shao Junming, a frequent absences owners in Hong Kong late last month to less than 5% of the market price, 6 million Sales Ap Lei Chau 17 D Lower room, before a buyer to negotiate, the owners less the price of 5% (30 million) to 5.7 million changed hands, 8-9% more than the market price, the usable area of ​​632 sq ft, buyers closing tenants. In addition, Central Plains Guwei Han also said that the recent owners see that the market has not yet been recorded turnover, and finally put the the soft attitude discounted sell goods, Sheung Wan Queen's Terrace a middle room, I salable area of ​​520 square feet, the original owners of the initial asking price of 8.2 million, see the subdued market conditions, discounted to 7.8 million won to undertake similar units were sold for $ 8.1 million before the government moves higher cost-bit down 3.7%.
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