Hong Kong's Wen Wei Po News (reporter Ngan LunLok) There are a recent signs of improvement in the sale of secondary residential properties
after nearly six months of downturn.Land Registry data show that there are 3,097 transactions recorded in the secondary residential registration in May,rose 25 percent on a monthly basis,it was believed that the primary sales of new properties have no attraction under the implementation of the new legislation,so that the purchasing power mainly focus on the second-hand market.Agency said, as some of the owners are soft-hearted about the prices,so it restart the chains of changing property, coupled with the HOS market was driven by the policy,it increased the turnovers,so it was believed the registrations of second-hand properties can rise up to another level by 20% to 3,700 cases in June.
Ricacorp Properties head of research Chou MoonKit pointed out that as prices come down gradually, home buyers began to accelerate into the market, also due to the fact that the "first-hand residential property sales regulations" carried out,so it cause lack of attraction on the new first-hand properties,so now the purchasing power and agency sales force back against second-hand market,and it lead the transactions of second-hand properties rose 25%,recorded more than 3,000 cases in total.
Sparse on the tradings of the precious properties
According to the Land Registry data obtained, recorded 3,097 cases in the registration of secondary residential properties in May (mainly reflects the actual situation of the property market in April), compared with 2,476 cases in April rose 25%. However,after the introduction of the new legislation, buyers bid more conservative, implicated in the decline in property prices,also the tradings of the precious properties keep on sparsing,leading the second-hand housing transactions worth only $14.22 billion HKD,a monthly increase of 19%,showed that the registration amount much lesser than before significantly.
Divided by prices, the price of second-hand housing turnover led recovery, particularly notable on the transactions which involved in
$5.0 million HKD to $7.0 million HKD. There are total 436 registrations of the housing transaction have recorded in May, surged 35 percent on a monthly basis,total turnover also rose 34% to $2.548 billion HKD.Those fine secondary residential properties which involved in $3.0 million HKD to $5.0 million HKD,prefer to the total turnover and the volume of transactions,it rose 34% and 35% respectively,1,211 cases and $4.571 billion HKD.
Due to the fact that the effect of the new legislation,the property market mainly supported by home buyers,so it led an outstanding result on the blue chip Estate Tradings.There are 278 registrations of the second-hand transactions have recorded in the top ten active traded estate in May,compared with April's 120 transactions,surge 132%,among of all,Kingswood Villas which in Tin Shui Wai,recorded 73 registrations of the second-hand transactions,becoming a high top record on the volume of transactions,rose more than 1 times monthly,City One Shatin also recorded 59 transactions,increased more than a double monthly.
Tradings of "White Form" HOS keep on rising
Chou MoonKit pointed out that despite the current reduced the supply of second-hand flat plate,also June is a normal traditional transaction season,so it is believed that the tradings of the second-hand market will slow down.However,some of the owners are soft-hearted on the prices,so it lead the chain of changing flats restart again,many home buyers start buying flats of'Green Form'and'White Form'of HOS,support the transactions of the property market,it is believed to offset the impact of the reduction of cheap flats,it was expected to further increase enrollment by 20% to 3,700 cases in the level of the second-hand residential sale estimate in June.
As for the overall property transactions registered in the Land Registry data,recorded 5,288 cases in May,compared with 4,387 cases in April rose 20.5%. Reflected the market conditions in April compared with March have slightly improved,there are bargain buyers into the market,but Centaline Senior Research Associate Director Wong LeungShing said,the number of overall transactions remained at a low level.It is worth mentioning that the HS Yi Belair Villas for sale in May recorded a 783 tradings registered,a total value of $2.686 billion HKD,accounted for 5,288 cases overall and $31.1 billion HKD to 14.8% and 8.6%.
The overall building registrations rose 20 percent
And while turnover rose 20%, but the overall amount of the side has edged down 2.4% on a monthly basis, to $ 31.1 billion HKD,in February 2012 recorded a $26.97 billion HKD after the 15 month low.In addition, the overall residential purchase agreements recorded 4,276 cases in May and $24.03 billion HKD,compared with 3,427 cases in April and $18.72 billion HKD increased by 24.8% and 28.4%.
