(By Leong Yuet Kam)
The restart of trade talks between China and the United States, developers' restrained pricing on new houses, and the low initial payment method stimulate the public to regain confidence in getting into the market. During three-day CPC Founding Day Holiday, totally about 738 new houses were sold, largely up 5.1 times compared to only 120 units in the same period last year, also increased about 1.4 times weekly.
GRAND MONTARA sold 504 units, which is the most.
Wheelock’s LOHAS Park GRAND MONTARA sold out its all 504 units on the first day of the sale on last Saturday, and it accounts for about 68% of the new house transactions during the holiday. Wing Tai’s OMA OMA in So Kwun Wat, Tuen Mun firstly launched 229 units the day before yesterday, 36 feature houses among were launched by tenders, and source pointed out that about 148 units had been sold until yesterday.
The sales of ready stock houses continues. New World’s ready project Artisan House in Sai Ying Pun sold its last unit, which is room K on the 33th top floor in area of 227 sq ft, and the sq ft price is HKD40,181 with the transaction price at HKD9.121 million. Neither the property price nor the sq ft price breaks the records of the same open style room J on the 32nd floor sold in October last year, and the transaction price at that time was HKD10.252 million, with the sq ft price up to HKD46,389 base on the area of 221 sq ft, also the sq ft price is still the most expensive among open style houses in Hong Kong. Artisan House sold out its 250 houses taking in over HKD2.2 billion.
Mount Regalia additional launched 3 houses by tenders.
Mount Regalia developed by Paliburg and etc yesterday additional launched 3 houses by tenders, including Garden Duplex on ground to 1st floors of block 2, room A on ground floor of block 7, and room B on ground floor of block 8, and the tenders will from this Friday to the end of this month, when they will be closed day by day.
There is lack of purchasing power in the second hand property market.
Under the booming in the first hand property market, the second-hand property trading can only be stabilized. According to the statistics of the four leading real estate agencies, there were only about 7 to about 11 transactions among the ten leading blue-chip housing estates respectively during the holiday, which are stable on a weekly basis.
The APAC Vice President and Residential Department President of Centaline Property, Chen Yongjie expresses, over 700 first hand property transactions were recorded during the holiday, grabbing a large amount of market purchasing power and putting pressure on second-hand trading. The overall trading atmosphere of the property market has improved significantly after the holiday and the G20 Summit, and buyers have regained confidence in the market outlook, so it is expected that the second hand property trading will stabilize this month.
The Chief Executive of the Midland Real Estate Residential Department, Bu Shaoming also expresses, the eased of the trade war after G20 and the meeting of President Xi and Trump, plus with the prediction of United States may decrease the interest rates bring positive factors to the property market in Hong Kong, so the first hand and second hand property transactions in this month are expected to rise, also the property prices will steadily increase.
