(By Yan Lunle， Li Zhitian)
Property transactions rise rapidly. The Land Registry announced yesterday that 6,428 registrations of sales and purchase agreements (including residential, parking spaces and commercial shops) were recorded in March, a latest highest in seven months. The Centaline research department estimates the registration will hopefully be above 7,000 cases in April. In fact, some agent pointed, many large projects receive a deluge of buyers, such as starter home project Reach Summit in Tai Tong, Yuen Long recorded 31 transactions in March, a latest peak in recent years. Central Park Towers I and II in Tin shui wai, Yuen Long recorded 14 transactions totally in March, the best performance in the past 14 months.
According to the data from Land Registry, the registration of property sale and purchase contracts in March was 6,428 cases, with a total value of HKD 52.826 billion, up 28.6% and 26.8% from February, and the number reached a seven-month peak. The Centaline research department estimated that the transaction volume has risen sharply, indicating that the property market has entered the seasonal boom market. As developers were actively launching new projects in March, it is estimated that the overall registration in April will hopefully rise above 7,000 cases.
Second-hand private home transactions sharply rose by 53%.
Among them, second-hand private home transactions increased significantly. In March, 3,488 cases were recorded including HKD 29.367 billion, up 53.1% and 65.7% from February. The second-hand trading was significantly warming up after the Lunar New Year, and it rose above 3,000 cases again and was close to HKD 30 billion after 7 months, both to the peak in 8 months, the senior co-director of Centaline research department, Huang Liangsheng pointed.
As for first hand private property transaction, it fell in March, with 1,439 cases in total value of HKD 15.041 billion were recorded, down 12.5% and 14.1% from February, while the main reason for the fall is developers slowed down the pace of project launch, but it still maintained above 1,000 cases. This company pointed many new projects are being put on sale in succession, so it is estimated the registration number of the first hand property transaction will rebound significantly.
The second hand property is popular. Central Park Towers gains its best performance in more than one year.
On the other hand, second-hand buyers enter the market fearing the price will get higher and higher, making the market in Yuen Long is booming. Wang Qinxue from Centaline expressed, Reach Summit recorded 31 transaction in March, the latest peak in nearly a year. The United States has suspended interest rate hikes, so buyers become more active to enter the market. Reach Summit recorded a transaction of room K on middle floor of block 11, which is 3-bedroom one suite house in area of 743 sq ft, and the price was slightly cut by HKD 0.05 million from the asking price of HKD 8.25 to HKD 8.2 million, with sq ft price at HKD 11,036.
Potential customers bought house in Tin Shing Court by HKD 4.96 million
In March, nearly 50 HOS transactions were recorded, large size houses among are behind the requirement, benefited by new HOS potential customers turning to second hand property market, Wen Jiahui from Tin shui wai Centaline branch, expressed. This company just promoted the sale of lower floor room 8 in block F of Tin Shing Court at green form price of HKD 4.96 million with the average sq ft price at HKD 7,631, and it is 650 sq ft including three bedrooms and two toilets . The buyer is first housing customer from other district who had applied for HOS in early and stopped house visiting, but he believed there was no much chance when he took a back row number, so he decided to turn to second hand property market, then after half year he successfully purchased one house after price cut of HKD 40,000.
The private homes in the district are also hot. Wu Yaozu from Centaline expressed, Central Park Towers I and II in Tin shui wai recorded 14 transactions in March, the latest peak in 14 months after 20 cases in last January, and the average sq ft price was HKD 11,951. Wu Yaozu revealed, high floor room G in block 6 of Central Park Towers, which is three-bedroom house in area of 588 sq ft, was sold at HKD 6.63 million, with the sq ft price at HKD 11,276. In addition, high floor room E in block 8 of Central Park Towers II, which is two-bedroom house in area of 504 sq ft, was sold at HKD 6.3 million with the sq ft price at HKD 12,500.
In the urban area, Wu Bingqiang from Ricacorp expressed, Island Resort in Shau Kei Wan recorded totally 13 transactions in March, the same to February, and it is the latest peak of the same project in nearly one year, with average sq ft price at about HKD 18,500.
Li Miaolan from Centaline said, Hang Fa Chuen recorded 14 transactions in March, up 27% from February, with the average sq ft price at HKD 16,960.
