Hong Kong's Wen Wei Po (Reporter Fong Choi Yan)The property market have stepped into the traditional slack season,coupled with there a number of new property sales attack the second-hand property market,so it cause the transactions of second-hand property have frozen together with cold front.Centaline Top-ten housing estates only recorded eight transactions in total in last weekend,fell 33% by week.Ricacorp Ten indicators Estate also recorded eight transactions only in last weekend,surged 43% by week.Midland Realty Top-ten blue-chip estates have recorded a new low in three months last weekend,only recorded four transactions,surged 42.9% by week,among of the ten housing estates,seven of them recorded zero transaction.Midland Realty Director and Chief Operating Officer Pu Siu Ming said there are festival is approaching in the end of this year,so the property market have stepped into the traditional slack season,coupled with there are a number of property sales attack the second-hand property sales,so it
cause the second-hand property market trapped in beaten dilemma.Even though there are some owners attitude have softened,but the developers sprinted launched out the sales in the end of this year,so the hot sale of first-hand properties will keep on spreading to the Christmas holiday,so the second-hand property is difficult to break out in this short period of time,it is expected that the transaction volume will still maintain at the current level.
Ricacorp president Liu Wai Kung said,the market is still focusing on the first-hand new property sales in recent months,keep on grabbing the purchasing power of second-hand properties,so it cause the transactions of second-hand property has yet to see a breakthrough,and the traditional slack season of Christmas is approaching,there are a number of owners narrowed the bargaining space in order to further reduce the second-hand transactions matching opportunities,so it cause the atmosphere of second-hand transactions becoming more quiet,the transactions of ten-top housing estates are also sparse.Centaline Asia-Pacific president Chan Wing Kit also pointed out that there are a number of new property sale keep on launching out on the market,also with there are different housing type for buyers to select and the price was close to the market price etc.,so it added pressure on the second-hand property market,coupled with the traditional slack season and the ratio of decreasing price by the second-hand owners is not high,so it is estimated that the second-hand transactions won't get any better before the new year,or even will further hit a new low record.
The transactions in Hong Kong Island and New Territories fell 60%
According to the Ricadata displayed that the second-hand properties in Hong Kong Island can't defeat the new property sales,among of the three top housing estates which recorded last weekend,Heng Fa Chuen recorded two transactions,fell 60% by week.The top-four housing estates in Kowloon recorded four transactions last weekend,remain unchanged when compared with last week,of which three transactions are come from Mei Foo Sun Chuen.As for the top-three housing estates in New Territories,Sha Tin City One, Kingswood Villas and Caribbean Coast recorded 2 transactions,fell 60% by week.
As affected by the new property sales in Hong Kong Island,there are a number of second-hand owners reduced the price in order to attract buyers,of which Ricacorp partition manager Yeung Ka Bo said the latest transaction recorded in Room No.10,Upper Floor,Tower R,Kornhill,usable areas 466 feet,two rooms interval,the original asking price by the owners is HKD $6.03 million,and finally reduced to HKD $5.8 million and sold,salable area of about HKD $12,446 per sq.feet.The owner in July 2010 to HKD $3.83 million bought the unit,after reduced the price,got the book profit of HKD $1.97 million.
Century Gateway Phase 2 received about 500 votes in total
As for the new property,The Avenue in Wan Chai on sale for less than two weeks,sold over 900 units in total,and in last weekend have sold another 50 units,the developer also sent champagne for the first 900 buyers in order to celebrate and the news refer to this property have transacted 6 units yesterday.Century Gateway Phase 2 announced the price list of 203 units the day before,the first batch 120 units will be on sale this Tuesday and will close receiving votes on Monday.The market sources,as of yesterday afternoon,received about 500 votes in total,SHKP Acting Assistant General Manager Wu Chi Yuen said there are not specific figures yet,but felt satisfied about the overall situation of receiving votes,and also the target is not becoming "The King of receiving votes".
And integrated primary sales network and market news,as for the transactions of first-hand new property,The Avenue recorded 52 transactions,Green Code in Fan Ling sold 7 units,The Visionary sold 5 units and EIGHT SOUTH LANE in the Western sold 4 units,Park Signature in Yuen Long sold 4 units,The Altitude in Happy Valley ,The Reach in Yuen Long,RESIDENCE 88 in Yuen Long and Ocean One in Yau Tong sold one unit respectively.On the other hand,The Hemispheres in North Point sold 1 unit yesterday,the transaction unit located in Flat D,7/F,sold in HKD $5.57 million,this property have sold a total of 48 units,cashed in over HKD $3.0 billion.
