The prime interest rate (P) of the bank was raised by 0.25% last week, and the second-hand transactions in the past Saturday and Sunday (17th to 18th) were very weak. According to the statistics of the four major agents, among them, only 6 transactions were recorded in the top ten housing estates of Centaline Real Estate, a weekly decrease of 4 or 40%, which was a new low in 6 weeks; Hong Kong Real Estate, a small company, recorded 14 transactions, which was recorded on a weekly basis. In other words, the turnover of Hong Kong properties is more than double that of Central China.
Centaline Property’s top ten housing estates recorded 6 transactions in the past two days, half of the housing estates had zero transactions, and all three index housing estates in the New Territories were “boosting eggs”. Chen Yongjie, Vice Chairman of Centaline Property Asia Pacific and President of the Residential Department, said yesterday that the US Federal Reserve and Hong Kong banks have raised interest rates again, and the decline in property prices has not stopped, which has affected buyers' cautious attitude towards entering the market. It will take time for the two parties to coordinate property prices. As the end of the year approaches, it is expected that property market transactions will gradually weaken, and property prices will repeatedly bottom out.
Buyers are becoming cautious and the property market may repeatedly find the bottom
In the past Saturday and Sunday, the transactions of the top ten housing estates in Rica Court also shrunk, recording 8 transactions, a weekly decrease of 3 or 27%, a new low in the past 6 weeks. Liao Weiqiang, President of Ricage Real Estate, said that the increase in interest rates has hindered the decision of citizens to enter the market, coupled with the severe weather on Saturday and Sunday and the market focus on the World Cup finals, slowing down the negotiation momentum between buyers and sellers, resulting in a further softening of housing estate sales.
However, as of 3:00 p.m. yesterday, according to statistics from Hong Kong Properties’ branches, its top ten second-hand index blue-chip housing estates in Hong Kong, Kowloon and the New Territories recorded a total of 14 transactions in two days, compared with the 7 transactions at the end of last week, which doubled on a weekly basis. This weekend, 7 of the top ten index housing estates recorded transactions.
The economy is gradually returning to normal, and the "Little Spring" is expected to reappear
Ma Taiyang, CEO of Hong Kong Real Estate, believes that even though the banks in Hong Kong follow the Federal Reserve to raise interest rates, some property owners accept bargaining, price cuts and bamboo shoots attract buyers to quickly enter the market to undertake, which drives second-hand housing estate inspections and transaction volume on weekends. He predicts that the pace of interest rate hikes next year is expected to slow down, coupled with the dawn of normal customs clearance between the two places, the economy will further return to normal, which is expected to drive the property market. It is expected that the property market may show signs of recovery in the first quarter of next year, and the transaction volume may rebound slightly from the bottom. Now "Xiaoyangchun".
For Midland, the top ten second-hand housing estates recorded about 13 transactions in the past weekend, a new high in 14 weekends, and a weekly increase of about 30%. If calculated based on the 15 largest housing estates, about 18 transactions were recorded, which also increased by 20% week-on-week.
