Hong Kong's Wen Wei Po (Reporter Fong Choi Yan) With the New Year atmosphere is getting stronger,the property market have entered into the traditional dull-season.Just last Saturday and Sunday,due to the lack of new first-hand properties put up for sale,so the transactions have greatly reduced over 90%,as for the transactions of second-hand housing estate have also fell into the a low record of single digits.MidLand Realty Top 10 blue-chip housing estate only recorded four transactions,have been recorded single digit for five consecutive weeks,also there are eight housing estates 'have no transaction recorded'.Centaline 10 top housing estates have recorded five transactions and Ricacorp 10 top indicator housing estates have recorded 3 transactions only.
Chief Executive Officer of Midland Residential Pu Siu Ming pointed out that there are a number of new properties launched out on sale in recent months,so it have recorded over a thousand transactions for three consecutive months,coupled with the year-end affected the second-hand property market,so the second-hand transactions was dominated by first-time buyers,as for the property which located in the New Territories like Kingswood Villas was welcomed by a lot of buyers,it is expected that the transactions will lead by the first-hand new property market after the Chinese New Year,as for the transactions of second-hand property market,will mainly from the units which with the discounted price.According to Mid Land Realty statistics,three indicators housing estates in Hong Kong Island,only Taikoo Shing recorded transaction,as for Kowloon have no transaction recorded and the New Territories was driven by the Kingswood Villas,have recorded a total of three transactions,but also less than the five transactions which recorded in the past weekend.
Pu Siu Ming expected that the property market will lead by the units which with discounted price
A large number of first-hand properties have launched out the sale with the price which close to the second hand property price in order to grab the source of buyers,so the owners need to attract buyers by discounts.Lo Kan Ho,chief district sales manager of Centaline property pointed out that the property market have recorded a new transaction which located in Flat A,Upper Floor,Tower 20,South Horizons,usable area 584 feet,two-bedroom suites interval with maid's room,the asking price of original owners was HKD $6.88 million,then discounted to HKD $6.5 million and sold,equivalent to HKD $11,130 per sq.ft,recorded a decrease of 5.5% .The new buyers bought the unit for home-use.The original owners in 1993 to HKD $2.08 million to purchase the unit,got the book profit of HKD $4.42 million this time and the unit have recorded more than two times appreciation.
Since the policy address have noted out building additional flats,some of the second-tier private housing prices in the New Territories have recorded a fall and needed to accelerate the pace of discounts.Centaline Senior Branch Manager Kwok Ka Kung pointed out that Flat C,Middle Floor,Tower 2,Grand Horizon in Tsing Yi,utility area of 491 feet,enjoy the garden and pool views,have discounted HKD $250,000 to HKD $4.6 million and sold,with an average price of HKD $9,369 per sq.ft.The buyer was living in the same area and wanted to change the unit,after bargaining for one week and bought it in final.The original owners in 2010 to HKD $2.8 million to buy the unit,held the unit more than three years with the book profit of HKD $1.8 million,the unit appreciation of 64%.
Tseung Kwan O Plaza discount HKD $150,000 of the price and sold
Centaline Branch Manager Ngo Yung refers to the latest transaction which recorded recently,the unit with a two-bedrooms interval was located in Flat C,Upper Floor,Tower 3,Tseung Kwan O Plaza,initial asking price of HKD $4.85 million,discounted HKD $150,000 of the price after bargaining and finally sold in HKD $4.7 million,with a practical ft price of HKD $10,421.
The original owners bought the unit with the price of HKD $3.67 million in February 2011,held the unit for three years,is now changed hands with book profit of HKD $1.03 million,the unit appreciated by about 28%.
