（By Chen Yuanwei）
Second hand property transaction is still in low level since market focus on first hand property project. According to the statistics of three large real estate agencies, ten large housing projects only gained 9-15 cases of transaction during weekend. Thereinto, Centaline has 9 cases which same to last week's, with 6 projects among have zero transactions; Midland fell by 2 to 12 cases; While Ricacorp Properties earned 15 cases up 4 than last weekend, but still in low level.
Agents put the blame on new project grabbing customers by market level price.
Agents impute the dull second hand property transaction to new projects grabbing customers, and criticized their open price near to market level, making some owners cut price. Chen Yongjie, the president of residential department of Asian Pacific Region of Centaline, expressed customers flow to new projects, freezing the mass purchasing power of the market and suppressing the second hand property transaction, even small cost houses in New Territories can't escape.
Liu Jiahui, the Lead Analyst of Midland expressed, new project pricing is competitive, keeping second hand property market being suppressed. However, the negotiation for units of some blue-chip project is enlarged to potential buyers' prediction, making second hand property transaction warming up these two weekend. Liao Weiqiang, the president of Ricacorp Properties, pointed second hand property owner adjusted the price under pressure of new project pricing in low level to attract potential buyers, so the transaction of large housing project is better.
Mei Foo Sun Chuen had the highest performance with 5 transactions.
During the second hand property transaction on last week, Mei Foo Sun Chuen in Kowloon had the highest performance which were 5 transactions up 150% than 2 cases in week before. Yu Kaocheng, the manager of Mount Sterling Mall branch of Ricacorp Properties, pointed the second hand property transaction is warming up, because the house visiting this month increased nearly 20% than same period of last month, and owners of the district also supply 3%-4% on negotiation, which successfully grabbed back some buyers.
Many new projects in Hong Kong Island opened, taking some second hand property customer source. Zhang Guangyao, the vice sale manager of Taikoo Shing KAM SING MANSION of Centaline Property, expressed three rooms unit H in high floor of Taikoo Shing TUNG HOI MANSION in usable area of 708 sq ft and cover area of 825 sq ft was asked for price HKD 9.85 million in August, while was sold at HKD 9.2 million after being cut by totally HKD 0.65 million in 3 months, with discounted usable area sq ft price at HKD 12,994. The original owner bought the house by HKD 3.75 million in 1993 and earned book profit of HKD 5.45 million, in appreciation of 1.45 times.
He Xin, the branch marketing manager of Dawning Views of Centaline, expressed some second hand property owners are willing to cut price attracting buyers. Low floor unit of building 3 of Avon Park was asked for HKD 2.8 million in earlier, but finally sold at HKD 2.628 million after cutting HKD 0.172 million at range of 6%; The usable area of it is 400 sq ft and the usable area sq ft price is HKD 6,570. In addition, Zhao Jinchang, the vice regional manager of Sha Tin riverside branch of Centaline Property, pointed low floor room 06 of building C of GREENWOOD GARDEN in riverside of Sha Tin sold at HKD 2.8 million, lower about 3% than market price. The usable area of it is 280 sq ft and the average usable area sq ft price is HKD 10,000.
Wu Pengxiong, the assistant regional manager of Castle Peak Road luxury project branch of Midland, said they just helped to sell room A in medium-high floor of building 5 of Aegean Coast, the owner of which cut the price from HKD 6 million to about HKD 5.76 million and sold to a house changing customer from other district, with price lower nearly 10% than market level.
