Last month, second-hand housing loss sales were the most in 13 years

The United States continued to raise interest rates to further hit the selling mentality of owners, and the number of loss cases increased, resulting in the bottoming out of the resale profit ratio. According to Chen Haichao, Director of Ricage Real Estate Research Department, based on the data obtained from the Land Registry, among the 1,607 second-hand private house sales registrations in Hong Kong with known purchase prices in October, 186 of them were sold at a loss, almost 6 cases per day , accounting for 11.6%, a new high in more than 13 years.

The daily average of 6 cases accounted for more than 11%

As for last month, there were 1,409 paper profit cases, accounting for 87.7%, a drop of 1.4 percentage points from the previous month, falling for 6 consecutive months, and a new low in more than 13 years; while there were 12 tie cases, the proportion dropped to 0.7%. Since the beginning of this year, the profitability ratio has dropped by 8.5 percentage points from 96.2% at the end of last year, which is the sharpest and longest drop since the financial tsunami in 2008.

Chen Haichao pointed out that in terms of property areas, Kowloon district performed the best in October, surpassing Hong Kong Island with 88.9% to become the district with the highest profit success rate, and it rose by 1 percentage point month-on-month; followed by Hong Kong Island district, which reported 88.2% , but fell 1.5 percentage points month-on-month; as for the New Territories, which was relatively backward, it only recorded 87.0%, and fell 2.5 percentage points month-to-month.

Based on the analysis of property resale prices, the profit ratio of the middle-priced property group with property prices ranging from 8.01 million yuan to 10 million yuan remained the highest, recording 92.6%, a month-on-month increase of 0.2 percentage points, involving 224 cases.

In addition, the profit ratio of the group above 12 million yuan also reached 90.2%, a month-on-month increase of 7 percentage points, outperforming the overall market.

Good intertwined sales data improvement

Chen Haichao pointed out that in early November, the United States raised interest rates again by three-quarters of a percentage point, and Hong Kong also raised interest rates for the second time this year, and the rate of increase expanded to one-quarter percentage points. The number of people selling properties at high prices continued to increase, resulting in the first half of this month ending on the 15th, the second-hand private housing resale profit ratio further fell to the level of 80.1%, and among them, the loss rate increased to 18.4%, which was close to 20%. However, the market released good news one after another last week, which is expected to ease the sharper decline earlier. However, it is expected that the more significant positive reflection will not appear until the number of registrations in December.

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