Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum)The government did not withdraw the spicy tricks,coupled with the economic slowdown in Mainland China,devaluation of RMB and the absence of major new properties beefing,'1st of May'Golden Week is no longer having hot sales,the property visit groups of mainland visitors have also extinct.The first day of first-hand property sales during the golden week this year was deserted,comprehensive market news and first-hand residential property sales network show,the first-hand properties in Hong Kong only sold 14 units in total,although have recorded two units more than the record in the same period of last year,but still is the worst sales ever in the history of golden week.Buyers are mainly from Hong Kong.
Golden Week which have been started from 1st of May this year,Hong Kong's major developers have failed to launch promotions of the property sales in order to attract mainland buyers and they have only sold the properties of some single-buildings and some unsold units,such as Harbour Pinnacle in Tsim Sha Tsui,DIVA in North Point,The Avenue in Wan Chai and also there are no other major real estate agents have formed any Hong kong property visit groups for mainland buyers,there are only Midland Realty have arranged a small amount of mainland visitors to Hong Kong for property visits.
Agents car come to Hong Kong just to visit but not buying
Midland Realty Chief Executive Officer of Residential Department Pu Siu Ming pointed out that due to the fact that the first-hand property sales this year are mainly from some unsold units,the brand new property Harbour-Pinnacle was located in downtown KCS,so the prices are more aggressive which needed to takes time to digest,so it cause the first-hand property sales performance in general.He said that they have arranged seven car rides for two groups of mainland visitors from Shenzhen to Hong Kong yesterday,visiting a number of new properties in the New Territories including the demonstration units of Park Signature,The Woodside and Riva,but there are no mainland buyers to buy any units.
Reporters yesterday in the scene of demonstration units or sales offices of Harbour-Pinnacle in Tsim Sha Tsui,The Avenue in Wan Chai and DIVA in North Point respectively have seen, the overall site visit only have general reaction,most of the visitors are Hong Kong family,of which the new real estate property Harbour-Pinnacle in Tsim Sha Tsui have the best viewing reaction,the news refers to there are about 100 groups of buyers to visit the demonstration units in the full day.This property first launched out 22 units,which located in 23/F, 25/F and 26/F respectively,with an utility area from 359 feet to 689 feet , priced from HKD $1.3946 ten million to HKD $2.368 ten million,with a sq.ft price of HKD $29,484 to HKD $41,721,discounts with tax concessions even send up to 14.75%.Yesterday's news referred that it have sold a unit which located in Flat B, 25th Floor,with 689 feet of salable area,priced HKD $2.2693 ten million.As for the unsold unit of DIVA in North Point have discounts with the extension,but due to the fact that it needed appointment for site visit,so it cause the site visit reactions are relatively deserted,there are many real estate agents in scene of The Avenue Phase 1 nearby in order to soliciting and the visit show flats reaction in general and sold two units yesterday.
It is expected that there are only 20 to 30 groups of mainland visitors come to Hong Kong for property visits
Pu Siu Ming said that due to BSD (the buyer stamp duty) pay 15 % tax so that it cause the desire of mainland visitors to Hong Kong have greatly reduced,moreover,the mainland property market is also on sale,real estate agents in Hong Kong have not organized a large group of site visit for the mainland visitors to Hong Kong in recent years.However,according to the TIC expected,the whole mainland visitors come to Hong Kong will record a 10-15% increase over last year during this golden week,he believes that the tourism except for travelling and consumption,but also there are some people who are interested in the local property market,so during the long holiday period starting from 1st of may,Midland Realty have arranged a seven people limousine daily,shuttle transfers the individual mainland visitors from Shenzhen and Hong Kong for visiting the demonstration units of first-hand properties in every districts.Executive Director and Chief Executive Officer of China Ministry of Midland Group Cheung Kam Shing is expected that they will arrange about 20-30 groups of mainland visitors to Hong Kong for property visits during the Golden Week which have started from 1st of May this year,which is 20% more than the usual record.
In fact,last year's Golden Week which started from 1st of May,Hong Kong's first-hand residential property sales regulations take effect immediately,there are many developers needed to take some time to sort out and update the information of sale brochures,price lists and demonstration units under the new regulations,only GREEN CODE in FanLing and the brand new property DUNBAR PLACE in Ho Man Tin have published the price lists with a total of 176 units are available for sale,coupled with the spicy tricks have introduced since the end of 2012,which cause the costs of buying Hong Kong properties by the mainland visitors surged,so that it have already added pressure on the first-hand property market last year,the first day sale of 1st of May only sold two units,which have recorded the worst sales of Golden Week which started from 1st of May in 10 years.
