Article from The property market have experienced about 2 months long 'ice age', finally start 'melting' in these recent days.
Centaline Property Agency Limited statistics showed a 2.25 times rise of Trading volume in the top ten housing,there are totally 26 real estate transaction cases in past two days,so they believe that the increasing number will keep on concentrating on the New Territories district, on the other side, ShaTin City One and Kingswood Villas have recorded 19 cases in overall,share 76% of the real estateTransactions.The industry pointed out thatthere are so many 'pay tax transaction' cases appeared on the trading market and the number is keep on
increasing ,this situation have reflected that under the enviroment of protracted and static movements of the property market,buyers and owners start willing to face the reality finally,start increase the number of the real estate transactions,so the expectation of tradings will gradually become more steady next week.
Centaline Property Agency Limited,presedent of the Asia-Pacific region,Mr.Chan WingKit said,the home market will keep on supporting the property market, the number of owners who are willing to eclipse let Sales are increasing,this action stimulated buyers to enhance their sentiments to enter the market,in addition,coupled with a globel ongoing quantitative easing,some of the local banks reduced the rate ofinterest recently ,so these favorable factors have increased the sentiments of the buyers to enter the market,drive the property market back to a balance point.
Centraline Property Agency Limited said that the new first-hand legislation urge the volume of tradings
Accordingto the statistics of Centraline Property Agency Limited,those real estate transactions mostlycome from the small and medium-sized units of the New Territories because most of the buyers are come from the home market.Centraline Property Agent Li ChungMan said,Shatin CityOne have recorded 9 cases of the whole turnovers,two-fold increase over the previous weekend.He also pointed out thatdue to the fact that the second-hand owners bargaining space increase and also first-hand sales legislation become effective,so these actions cause the develoopers stop selling new flats,lead the first-hand market to a vacuum indirectly,so most of the prospective buyers reflux secondary market,drive the trading volume of Shatin CityOne increase. This housing have recordedabout 30 cases in overall this month,compared with the previous month,there are approximate 20 cases increased significantly.
ShaTin CityOne and Kingswood Villas support the real estate market
In past two days,Tin Shui Wai Kingswood Villas have recorded 10 cases in the property transactions, support the real estate market together with ShaTin CityOne.Ricacorp agent Man KaFai said,Kingswood Villas's owners are mostly willing to expand the bargain amplitude in order to accelerate prospective buyers to enter the market,support the increaseing transaction volume of the housings.For example,Falt D,Middle floor,Tower 14,Locwood Court ,with 551 feet of salable area,owener break thereserve price HKD $2.98 million,changed hands to $2.9 million,the real ft price of HKD $5,263 ( in case of accident in the same layer,so the transaction price is 3 % lower than the market price ) .
Another agent correspondent Midland Realty statistics top ten housing ,have recorded 25 cases of the real estate transactions,compared with 12 cases which recorded in the previous weekend ,there are more than doubled increased in total.The executive director Chan KwunHing said,there are only a few of new flats are available for sale,so it attracted some of the funds reflux second-hand market,also some of the owners are soft-heartes,so this is the reason why the turnover rose significantly.Ricacorp top ten housing recorded 23 cases in the real estate transactions,on a weekly basis,it have increased about 53%.
Something that worth mentioning is that there are many buyers and oweners discovered that the trading markethave less movements and also some countries keep realease funding ,so buyers finally decided to face the reality, and now the market start emerge a batch of "pay tax transaction" buyers again.( see the table)The proxy pointed out that some individual oweners are willing to eclipse let sales is because of SSD start being vanished,so consider that they just need to pay 5%,afraid of the selling price will become lower.On the other hand,some buyers still attracted by the selling price,although they need to pay higher taxes ,increase the cost of the flat,but under the situation of less fund,they finally bought it with no fear.
Fortress Garden paid taxes over $2.0 million HKD
Among of those housing,the deal of North Point Fortress Garden involved high taxes.Chan SukKung who fromCentraline Property Agency Limited said,Flat C,Upper Floor,Fairview Court,with 696 feet of salable area,sold for 9.8 million HKD (not including taxes),the real ft price of HKD $11,779.Due to the fact that buyer is a mandarin,so he need to pay Buyer Stamp Duty (BSD) and double stamp duty (DSD) which cost about 22.5% of the selling price of the flat,with a total spend of $28.9695 million.Manywells agent Cheung SukYin said,
the unit located Flat F,Lower Floor,Tower 2,with 660 feet of salable area,deal with $4.56 million HKD,the real ft price of HKD $6,909,due to the fact that the owner of this flat hold the property less than two years,so he need to pay 5% extra stamp duty (2.28 hundred thousand in total),however,after deducted those taxs fee,he also gained 1.12million HKD.
