Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum,Chan Choi Sin,Leung Wai Chung) HKMA day before yesterday (February 27) announced the sudden tightening of the units with prices HKD $7 million or less to 60% LTV, instant make second-hand property trading fell 50% when compared with the day before yesterday. Owners face reality,the discounted price cases appeared frequently and there are young prospective buyers miss flat inspection, first wait and see and then decide. The new property transaction is also only 11 traded yesterday. Industry estimates, in March of second-hand trading volume will drop 20%, due to the development of the opposite hand and floor to provide second mortgages and other benefits, turnover will continue to rise.
Midland Realty Chief Executive Officer of Residential Department Pu Siu Ming yesterday, said yesterday second-hand property transaction volume than the previous estimate of 50% plunge the day before to make moves, flat inspectionof buyers also fell by half,it is expected in March of secondary market transactions will fall 20%, of which the units which involved in HKD $7.0 million or below will fall 30%, but the new measures won’t affect the units which involved in HKD $7.0 million or more. Centaline Mr Chan, president of Asia Pacific Residential also estimated that the measures will make the next three months property transactions serious decline, expected volume decreased by 30% compared with January, short-term prices will be reduced by 3 percent, with a price reduction project developers handedly space. Ricacorp Properties president Liu Wai Kung said that since the HKMA moves last night, yesterday's second-hand flat inspection amount and trading volume was significantly reduced, nearly 20-30% less than last week, second-hand buyers and industry chaired the sidelines. In both the expected fall in property prices in the premise, buyers continue to choose entertained, prospective buyers will suspend the market pace.
A low floor unit of Kingswood Villas have reduced 7.7 percent of the price
Wells Properties estate branch director Lee Kai Chung said yesterday there were originally a young first-time buyers made an appointment to visit the Tuen Mun Siu Hong Court and Parkland Villas units, and finally miss the flat inspection, claiming to take another look at the trend of prices before deciding to enter the market strategy. Many owners have to face the reality of price reduction, which are frequent in Tin Shui Wai Sale dish, Kingswood Villas in Tin Shui Wai lower a 815 ft unit, the original asking price of HKD $5.2 million,reduced HKD $400,000 yesterday to HKD $4.8 million,with a decrease of up to 7.7%. In addition,a unit located in Flat A,Lower Floor,Kingswood Villas in Tin Shui Wai,with the salable area of 636 square feet, the original asking price of HKD $4.5 million,the owner willing to reduce HKD $200,000,with a reduction of 4.4%.
Elegance Garden reduced HKD $200,000 of the price and seek for sell
Century 21 Sunrise executive director Wong Man Lung said that the HKMA moves again last night, the owner of Kim Elegance Garden Court North lower household immediate with price reduction of HKD $ 200,000, a decrease of 3.4%, the unit with salable area of 462 square feet, the original asking price of HKD $5.8 million,reduced HKD $200,000 to HKD $5.6 million.A units located in Room 02,Lower Floor,Tower F of North Point Healthy Gardens yesterday also Sale HKD $180,000,with the salable area of 456 square feet, the original asking price of HKD $5.78 million,reduced HKD $180,000 to HKD $5.6 million,with a decrease of 3.1%.
There are many buyers to catch the last chance of buying property before the implemenation of spicy tricks last night
Wong Man Lung pointed out that based on first time home buyers down payment tight, some prospective buyers to take the last train to catch last night, in time, "add spicy" before the stock market in order to find 70% of the mortgage bank to spare. North Point The Harbourside buyers at 11 o'clock last night, "sprint" to zero bargaining of HKD $6.5 million to purchase a salable area of 333 square feet per unit, last to do so by the full 70% mortgage. In fact, by the full 70 percent of mortgage loans amounted to HKD $4.55 million,60 percent of the loan amount borrowed HKD $3.9 million,a difference of HKD $650,000,for first time home buyers belong to a huge burden.
Quarry Bay Nam Fung Sun Chuen a salable area of 391 sq ft two-bedroom unit last night at the Government announced "add spicy", the emergence of two buyers fight for the unit scenes,Cenntlaine Regional Sales Manager Yuen Kong Dak pointed out that one of the buyers wanted to buy the property before "spicy tricks",without flat visit and chase prices HKD $40,000 to HKD $5.9 million and bought the unit with high prices successfully catch the last chance,in fact,recorded a new high price of HKD $15,090 per sq.feet,the price per square foot house and were a record price High Court two rooms indoors. Midland Realty chief senior sales manager Leung Chung Wai, said the Tsuen Wan center have also recorded transaction before the implementation of spicy tricks,the unit was located in Flat C,Middle Floor,Tower 19,with 2-bedrooms interval,with utility area of 324 square feet, the original asking price of HKD $3.7 million,as the owners are willing to minor reduced to HKD $3.67 million and put on sale again,which have attracted a buyer who come from the same area at 9:00 last night signed a hurry and do 70% of the mortgage.
