Centaline Property's top 10 estates recorded only 2 transactions this weekend, plunging 85.7% week-on-week, with the number of transactions returning to single-digit levels and hitting a 44-week low.

Among the top 10 estates, only Whampoa Garden and Caribbean Garden recorded one transaction each, while the remaining 8 estates were the winners.

Centaline Property's Chief Executive Officer of Residential Department, Mr Chan Wing-kit, said that the sudden heavy rain and wind today had affected the sentiment of property viewing in many districts, coupled with the fact that Hong Kong banks had followed the US interest rate hike, buyers took time to digest the news.

The three major blue-chip estates on Hong Kong Island recorded no transactions this weekend, resulting in muted trading. According to Chiu Hung Wan, Senior Regional Sales Director of Centaline Property Taikoo Shing, Taikoo Shing has recorded only three transactions so far this month, with an average price of $15,711 per square foot.

The low opening of large new developments in the New Territories, coupled with the fact that Hong Kong banks followed the US interest rate hike, made the sentiment of property viewing this weekend significantly quieter, affecting transactions.

In Kowloon, Centaline Property Whampoa Branch 2 Regional Sales Manager Yuen Hin Yan said that Whampoa Garden recorded one transaction this weekend, the same as last weekend, and the estate has recorded four transactions this month, with an average price of $15,332 per square foot.

This weekend, the market recorded a sale of flat E in Block 7, Phase 9, with a saleable area of 860 square feet and a gross floor area of 969 square feet, with a three-bedroom suite partition and a workers' room with a south-facing sea view.

In the New Territories, Centaline Property's Deputy Divisional Sales Manager of Tung Chung Caribbean Park Branch 1, Mr. Cao Jiahua, said that the same as last week, Caribbean Park recorded one transaction this weekend, the unit is a middle floor room B in Block 6, with a saleable area of 729 square feet and a gross floor area of 986 square feet.

It is reported that the original owner bought the flat in June 2009 for $2.74 million and has held it for nearly 14 years, and left the market with a profit of $5.36 million.