Top 10 Blue-Chip Housing Estate Weekend Deals Hit 16-Week Low

The top 10 blue-chip housing estates in Hong Kong recorded just three transactions over the weekend, marking a sharp 57.1% week-on-week decline and hitting a 16-week low. Among them, eight estates recorded no transactions at all, with all four key estates in Kowloon reporting zero activity.

Louis Chan Wing-kit, vice chairman of Centaline's residential division, noted that the strong sales of new developments in Sai Sha have captured significant market attention, with the sixth round of sales selling out on the same day. The attractive pricing of these new projects, combined with this month’s positive market sentiment, has quickly depleted high-quality second-hand listings. Meanwhile, many property owners, confident in the market’s future, are reluctant to lower their prices, creating a standoff between buyers and sellers and slowing transaction activity.

In Hong Kong Island, Kornhill recorded one transaction over the weekend, bringing the monthly total to 14—an increase of 1.3 times compared to last month. The average price per square foot of usable area is approximately HK$12,416. This month’s positive market news has boosted buyers’ confidence, prompting many first-time buyers to enter the market.

In Kowloon, all four key estates failed to record any transactions over the weekend.

In the New Territories, Kingswood Villas remained active, with two transactions over the weekend and a monthly total of 27 transactions, surpassing last month’s total. The average price per square foot of usable area is approximately HK$7,650.

One notable transaction was in Block 11 of Locwood Court, a mid-floor Unit C with a usable area of 551 square feet and a three-bedroom layout. The property was initially listed at HK$4.38 million and sold within a week for HK$4.22 million, at an average price of HK$7,659 per square foot. The previous owner purchased the unit in 2011 for HK$2.18 million and held it for 14 years, realising a profit of HK$2.04 million, a 93.6% increase in value.

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