Recently, hot money flows into Hong Kong again, and Hong Kong Monetary Authority has injected nearly HKD 40 billion to the market since July, although stock market suffers small effect from hot money, but property transactions rise, leading both hot trend in first hand and second hand property market.
According to data from Land Registry, Hong Kong registered 3,053 property transactions in first ten days of July, which reflects the property market in middle ten days of June, largely up 70% than 1,800 cases in same period of June. The property transaction total amount is about HKD 16.957 billion in same period, up 72% comparing to HKD 9.877 billion in same period of June.
First hand property transactions may continue rise.
Although there had been always cool season in June, but residential property transaction unusually hot this year, pointed by Zhou Manjie, the Research Department Director of Ricacorp Properties. Benefit from government's DSD house changing remitted term, plus with developers are actively launching more projects, many first housing customers and house changing buyers speed up the purchasing, so it is believed the whole property transactions will be droved to or above 8,500 cases, up 15% more comparing to 7,404 cases in June, and it will be the latest peak in 17 months.
In fact, comparing with each field of property market, first hand residential market is the hottest, large new project City Point among is benefited, and Hong Kong registered 758 cases in first ten days of this month, at transaction amount of HKD 6.199 billion, respectively largely up 6.81 times and 4.14 times than 97 cases and HKD 1.207 billion of same period in last month, also the rising range of them are the highest among three kinds of properties.
Second hand property transactions rose 30% by month.
Second hand residential property market also has ideal performance. First housing customers and house changing buyers keep running into second hand property market because government relaxed DSD house changing tax return term, driving Hong Kong second hand residential property transactions up to 1,834 cases in first ten days of this month, which increased 31% than 1,401 cases in same period of June; The property transaction total amount was HKD 9.108 billion, rising 37% by month.
In the first ten days, 171 transactions were registered in the largest ten second hand property projects, sharply rose 88% than 91 cases in same period of last month, which was better than second hand leading market, the registered quantity from Park Island, YOHO Town, Belevedere Garden, Richland Gardens, and Hang Fa Chuen among all double rose, in front of second hand leading market. As for Kingswood Villas, it registered 43 transactions, the most in second hand property projects.
About non residential market, some investors partially put on sale the shops of their shopping malls, and transactions rose since market is better. Thus Hong Kong registered 461 cases of non residential property transactions in first ten days of this month, up 53% than of the same period in June. But the property transaction total amount of the same period was only HKD 1.65 billion, down 18% than of the same period in last month.
