Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum) The doubled-spicy tricks on property market have passed through the third reading by the end of February,together with the first-hand properties continued to launch out the sale with prices even lower than the market prices,so the owners of second-hand property market have been forced to expand the bargaining space,causing the trading in March have become warmer.Industry estimates that reflecting market conditions in March,April second-hand residential property registrations will exceed 3,000 cases,which have recorded a new high in nine months since last July,the second-hand property trading volume in April can be maintained the level of 3,000 cases,the property prices will continue to decrease to about 2-3%.
Midland Realty chief analyst Lau Ka Fai said that according to Midland Realty Research Division Comprehensive Land Registry data show that,as of the 24th April,the amount of second-hand residential registered 2,945 cases have been recorded,more than 2,717 cases which recorded in a full month in March,it is expected the full month of April will end six consecutive months less than 3,000 cases of the record,the final record a new high in nine months since last July.
The second-hand property prices continued to fall by 3%
He refers to under the double spicy tricks,the first-hand properties continued to launch out the sales with prices even lower than the market prices,the owners of second-hand property market have been forced to expand the bargaining space,so that released the accumulated purchasing power which have stimulated the second-hand property tradings in March rebounded to more than 3,000 cases.However,as the owners can't be held properties more than the developers,the price reductions may not be as large as the earlier days,coupled with the spicy strokes cause the costs of properties increased,affecting the sentiment of buyers to buy the properties,it is expected that the second-hand property prices will continue to decrease by about 2% to 3%,the second-hand property trading volume in April is expected to be maintained the level of 3,000 cases.
The property registrations of Amoy Gardens surged
Lau Ka Fai said that the top 10 second-hand housing estates with the highest amount of property registrations within this month,nine of them have recorded more than the total amount in March.Of which the property registrations of Amoy Gardens surged,the first 24 days of Apri have recorded 24 cases,rose 1.67 times when compared to 9 cases which recorded in March.Kingswood Villas,Taikoo Shing,Whampoa Garden,Park Central,Park Island and recorded approximately 38.1 to 64.7% increase.Only Mei Foo Sun Chuen haven't breakthrough a digital number,there are still 5 cases to reach the total amount of property registrations recorded last month,it is expected the property registrations of this month will eventually follow the market and recorded more than the total number of the previous month.
Ricacorp Properties president Liu Wai Kung think that there are a number of first-hand new property sales launched out in May and June,which have affected the second-hand property transactions,but it is expected that it can still remaining the rampant levels of 3,000 cases.However,when compared to the good market condition of about 6,000 to 7,000 second-hand property transactions per month, the current trading volume were still half less than the previous record.
Hong Kong property prices may speed up the adjustment
mReferral Mortgage Brokerage Services chief economic analyst Lau Yuen Yuen pointed out that the second-hand property prices continue to adjust since the second season of last year,with a decline of 0.3% to 1.5% quarterly,stepped into this year,the decline have intensified,has benn fallen for the fourth seasons.According to the mReferral Research Department data show that in the first season fell by about 1.6%,the second-hand property prices decline further.She believes that the property market is very gradually from the period,under the new first-hand property sale with the discounted prices and looking forward to hike price promotions and other bearish news,adding to the pressure on the owners of discounted transaction.Valuation appears a fall slightly in recent month,the property prices are entering an adjustment phase,but the government has not yet intend to withdrew the spicy tricks,once the United States to accelerate the pace of delisting,there will have a shock to the economy,under the double attack of the internal and external negative factors,the property prices in Hong Kong have the opportunity to accelerate the adjustment of the year.The property prices this year will have a chance to appear a fall for the first time since 2008,but it is expected that the decline of property prices in the second season are limited.
