(By Yan Lunle)
The property market continued to be prosperous on the past weekend. A total of about 660 first hand property transactions were recorded in two days, while the four major real estates respectively still recorded 9 to 15 transactions among ten leading housing projects, although a lot of second hand purchasing power was grabbed by the new projects. Each district continued to record many high-priced second-hand property transactions, especially transactions of properties suitable to the first housing people are rising sharply. One two-bedroom unit in HOS project Glorious Garden from Tuen Mun was sold in the second hand HOS market, with the usable area sq ft price at HKD 9,049, which is the first transaction in Tuen Mun HOS second hand property market that breaks through the HKD 9,000 level.
12 transactions in ten leading housing projects were recorded on the past weekend (March 23 to 24), a decrease of 4 transactions compared with 16 transactions last Saturday and the latest lowest in nearly 6 weeks, Centaline announced. A number of new projects in urban area were put on sale on Saturday, with nearly 600 first hand property transactions were recorded, which estimated to be the latest peak on Saturday for 30 weeks, the Asia Pacific vice chairman and president of the residential department of Centaline Property, Chen Yongjie expressed. The new projects sales were good, successfully attracting some of the second-hand customers and making second-hand property trading slightly under pressure.
Mr Chan continued that under the rising of property market, second-hand owners are aggressive, especially those in the blue-chip housing estates, leading potential buyers turn to second-tier housing estates with larger bargaining space.
US stops raising interest rates, buyers take the chance to rushing into the market.
According to the statistics of Midland Real Estate, 15 transactions were recorded in the ten leading housing projects on Saturday and Sunday, which was the same as last week. The United States has announced that it would stop raising interest rates, plus the low interest rate environment in Hong Kong continues, leading the accumulated purchasing power being released, and buyers are more positive as first hand and second hand property market rising and speeding up, leading the second hand property transactions going faster, so it is expected that the increase in property prices in April and May will further widen and challenge the high level in last year, the chief executive officer of residential department of Midland, Bu Shaoming said.
According to the network data of the Ricacorp Branch, 12 transactions were recorded in the ten leading housing projects on Saturday and Sunday, down 29% from the previous week. The property market is hot, and second-hand owners begin to rise prices, close the sale, leading house source sharply down, and causing some buyers turn to the first hand property market, the president of Ricacorp, Liao Weiqiang said.
Hong Kong Property CEO Li Zhicheng also pointed, the trading volume of the ten leading housing projects in their company on Saturday and Sunday fell by 25% to 9 cases, the lowest in five weeks, but the volume was still close to ten cases although new projects were largely launched.
On the other hand, each district continued to record high-priced transactions. The latest one is from Room K on Middle Floor of Block 11 in Glorious Garden, Tuen Mun, which is two bedroom unit in usable area of 431 sq ft. Huang Qingde from Many Wells Property expressed, the unit was purchased by a white form second hand HOS buyer (white form free of land premium to buy second-hand HOS house) at HKD 3.9 million with the usable area sq ft price at HKD 9,049, the highest transaction price of the same type houses in the free land premium market, also the first time in the second hand HOS market in Tuen Mun District that the sq ft price breaks through HKD 9,000. It is known, the original owner bought the unit at HKD 1.75 million (at the second hand HOS property price) in 2013, and now the book profit is HKD 2.15 million.
Tin Shing Court two-bedroom unit was sold at the peak sq ft price.
In addition, Huang Zhaowen from Many Wells Property pointed, the original owner firstly asked HKD 4 million for the middle floor room 7 in block C of HOS Tin Shing Court in Tin shui wai with usable area of 429 sq ft, but he finally cut twice the price by totally HKD 0.15 million to HKD 3.85 million and sold it to a white form second hand HOS buyer, leading the discounted sq ft price at HKD 8,974, which is the latest peak among same type two bedroom units.
In addition, source pointed, the original owner firstly asked HKD 5.38 million for the high floor room 5 in Golden Wealth Court of Golden Lion Garden in Tai Wai which is one room unit in usable area of 322 sq ft, but he decreased to HKD 5.175 million and sold it, with the sq ft price at HKD 16,071. According to the data, high floor room 5 in same block was sold at HKD 5 million in last November, about 3.5% lower than this time. . While a middle-floor unit in this block was sold at low level of HKD 4.2 million in downturn market last year, about 20% lower compared with this time.
