Hong Kong's Wen Wei Po (Reporter Leung Wai chung,Ngan Lun Lok)The volume of second-hand property transactions haven't got any improvement in the past weekend the volume of each agency's top ten hosuing estates number of transactions recorded 12-18,of which the transaction volume of RICACORP and Midland Realty have hit a new high record in five weeks. RICACORP president Liu Wai Kung said that while 'Occupy Central' operation lasted more than a month, the number of transactions continued to make second-hand tradings hovering at a low level, but presided over strong cargo industry, has not been seen price fell.Recently, the court issued an injunction, "clearance" operation began, political tensions eased, the property market has been steadily recovering. RICACORP recorded 16 seoncd-hand proeprty transactions on Saturday,rose 23%.
Taikoo Shing PINE MANSION recorded a loss transaction
Centaline Taikoo Shing Regional Sales Manager Cheung Kong Yiu said that the housing estate recently recorded a loss transaction,the unit located in Flat C,Upper Floor,Taikoo Shing PINE MANSION,is a sepcial unit even with rooftops,with the salable area of 1,046 square feet, the building area of 1,137 square feet, the original owners started asking price of HKD $2.6 ten million, buyers and sellers see-saw nearly seven hours,greatly reduced HKD $4.2 million to HKD $2.180 ten million traded, the price is about HKD $20,841 per sq.feet.
Since the original owner bought the unit with the price of HKD $2.0 ten last February,hold stocks changed hands more than a year, to be paid prices 10% additional stamp duty, involving HKD $2.18 million,HKD $380,000 this calculation has been eclipse, if the calculation of the owners ad valorem stamp duty and brokerage fees, etc., estimated amplitude higher corrosion,the market means this transaction with a loss of about HKD $1.5 million.
Centaline also recorded 12 transactions in the weekend,edged down 7.7 percent when compared to last week,there are still four hosuing estates recorded zero turnover.
Midland Realty Chief Executive Officer of Residential Department pu Siu Ming said that are down more than a month away from the end of the year,many people rush to purchase a new home before the New Year, with this weekend's new units supply more than 300 units which becoming the market focus, but also led to the purchasing power of the festive atmosphere release, catalytic public market sentiment,which have appeared the situation of first-hand property market driven teh second-hand property market.
A unit with three-bedrooms interval of Luk Yeung Sun Chuen in Tsuen Wan which have hot 2 new high records in a single day the day before,the record have breakthrough yesterday again,three times a week to break the top record. News pointed out that a unit located in room 5,Lower Floor,Tower P,with the utility area of about 582 sq ft unit,the construction area of about 671 square feet, 3 bedrooms interval, just deal with HKD $6.1 million,with HKD $10,481 per sq.ft, which have hit the new high record of the housing estate,while the same unit price per square foot is also hit a new high record.The original owners have bought this unit with the price of HKD $2 million in 2000,this transaction with a book profit of HKD $4.1 million.
Midland Realty top ten housing estates turnover increased 50% to 18 cases
Pu Siu Ming believed that there are a number of new properties will put up for sale before the end of the year,continue to dominate the property market and brought up the atmosphere,the second-hand property market will be benefit by it and the tradings were expected to maintain stability. 10 large housing estates have recorded about 18 Transactions,rose about 5 percent late last week ,which have hit a new high record in the five weekends.
Lower the interest rate favorable,Centaline was expected the tradings this week will be increased by 20%
Centaline Asia Pacific president, Mr Chan Wing Kit said the housing market weakened in the news of Occupy Central,the volume of transaction was stepped into track. China has just announced to lower the interest rates,he expects the message will be used to stimulate the second-hand property transactions, this week's top ten housing estates volume increased about 20 percent.The proeprty market was driven by the home-use buyers recently,so that small and medium units traded steady increase,two-bedroom units of some individual housing estates have also recorded new high records continuously.A unit located in Flat C,Upper Floor,Tower 2,Grand Promenade,Sai Wan Ho,with the utility area 467 sq ft unit,transacted with the price of HKD $9.18 million,with the average price of about HKD $19,657 per sq.ft,which have hit a new high record of the price of two-bedroom unit of the housing estate and also have hit a new high record of price per square foot.
