Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok) 'Semi- new properties' have recorded transactions with a great loss in the recent month,the situation is more spread to other mansions.Market sources,traditional mansion in Pokfulam Bel-Air phase 6 have recorded the transaction with the largest loss of this year.A mainland owner bought a unit of Bel-Air with the price of HKD $2465 ten million in 2011,hold stocks for three years and to leave hastily,transcated with the price of only HKD $2.28 ten million and even with the stamp duty and agent commissions , etc., so that the amount of loss up to around HKD $3.38 million. At the same time ,Festival City in Tai Wai have recorded a transaction with a loss also.
Sources,the transaction unit with a loss of Bel-Air was located in Flat C,Upper Floor,Tower 6,with a salable area 1,119 feet. Land Registry show that the unit owners registered by Chinese name Zhuxu Li,it is believed that he is come from Mainland, of of which the buyer bought the uit with the price of HKD $2.46554 ten million in March 2011.It is reported the owner held the property for more than three years,transacted with the price of HKD $2.28 ten million,equivalent to about HKD $20,375 per square foot utility.Let alone,the book loss have recorded HKD $1.855400 ten million,so even if calculated with the amount of fees so that the loss of more HKD $3.38 million.
Except for Bel-Air,Festival City in Tai Wai have also recorded a transaction with a loss,agency refers the unit was located in Flat SD,Middle Floor,Tower 1,with an utility area 742 feet.Land Registry data show that the owners registered in the name of the company in March 2010,bought the unit with the price of HKD $8.506 million,hold stocks for more than four years and changed hands.News pointed out that the transaction price this time was HKD $8.388 million, the price of about HKD $11,305 per sq.ft,carrying total loss of HKD $118,00,together with stamp duty and commission and other expenses,so that the amount of actual erosion of about HKD $500,000.
The new properties have driven 'top ten' second-hand transaction slowed down
Except for the mansion market,such as the semi- new properties also recorded transactions with a loss,driven 'top ten' second-hand transaction slowed down.Midland Realty branch statistics,ten top housing estates in the past two days have recorded approximately 17 transactions,have no change weekly,but the second-hand property transactions in Hong Kong Island have increased by 2.5 times,rare beyond Kowloon and the New Territories,with a maximum trading volume of three districts,New Territories trading is a significant drop a half.As for the Centalin Top Ten housing estate statistics,two-day transactions have recorded only 13,when compared to 18 transactions which recorded last week,fell 27.8% .
Midland Realty Chief Executive Officer of Residential Department Pu Siu Ming pointed out that the property prices of the new property sales in Tsuen Wan opened close to the market price ,frozen the purchasing power in the same district,resulting in second-hand property tradings plunged in the New Territories,at the same time less spicy effect continues to ferment,double stamp duty (DSD) to fine-tune releasing part of the long standing purchasing power. Under the influence of positive and negative factors, the weekend trading rampant,but with the developers to accelerate the deployment of selling properties,first-hand new property sales heated up,grab the second-handbuyers was inevitable.
Centaline Asia Pacific president of residential department,Mr Chan Wing Kit said that after the DSD revised, market has not much reaction,but there are a number of first-hand new properties launched out,particularly the large new properties in the New Territories have become the market focus recently, snatched a large number of purchasing power,coupled with the market previously digested a large number of properties with good prices and quality, making the pace of tradings slowed down.On the other hand,the new property sales in Hong Kong Island have reduced recently,the second-hand property in the region continued welcome by the buyers,which cause the second-hand property tradings have accelerated.
Ricacorp said that the source of second-hand property is keep on reducing
As for the other two correspondents,Ricacorp top ten housing estates have recorded 19 transactions in two days,rose about 27% by week.Ricacorp Properties president Liu Wai Kung said that the lack of second-hand properties,the sentiment of the buyers is high,except for the investors with lack of funds and even if the buyers who have met the property with a good price and quality,also will buy it for home use,stimulate some indicators housing estates transaction such as Taikoo Shing increased.Hong Kong Property statistics,top-ten housing estates have recorded about 13 transactions in two days,with an increase of approximately 85.7% by week .
