Centaline Property's top 10 estates recorded 4 transactions this weekend, 55.5% less than last week, maintaining single-digit transactions for 9 consecutive weekends, with 7 estates recording 0 transactions. Centaline Property's residential department president Chan Wing-kit said that the recent new homes in various districts continue to reduce prices to grab customers, second-hand owners have little room for bargaining, it is difficult to catch up with the rate of reduction of new homes, resulting in the pressure of second-hand transactions.
On Hong Kong Island, Centaline Property Hong Kong Island Southwest Chief Divisional Sales Manager Lo King-ho said, South Horizons recorded the first transaction in July, the unit is a high-rise H room in Block 25, usable area of 724 square feet, with 3 rooms and a half partition, the owner originally asked for $13.3 million, the latest to $12.18 million changed hands, a price reduction of $1.12 million or 8%, the average price of $16,823 per square foot usable. The original owner bought the unit in 2012 at $8.76 million and held it for 11 years, and left the market with a profit of $3.42 million on the sale, with the unit appreciating about 39% during the period.
In Kowloon, Centaline Property East Kowloon Laguna City Phase 1, the first branch manager Guo Lijuan said, Laguna City this month recorded a temporary transaction, and the same period last month. Affected by the new price reduction war, buyers are more wait-and-see attitude to enter the market recently, affecting the transaction, the secondary market remains quiet.
In the New Territories, Centaline Property Tin Shui Wai Deputy Regional Sales Director Ng Yiu-chu said that the area continues to attract buyers to the market, Kingswood Villas recorded two transactions in July, which is better than the same period in June, with an average price of $9,505 per square foot, down about 11.5%. The latest transaction was for a 3-bedroom apartment with a saleable area of 635 square feet in the middle floor of Kingwood Residence, Block 10, which was sold for $5.75 million at an average price of $9,055 per square foot. The original owner bought the unit in July 1995 for $1,744,000 and now sold it for a profit of $4,006,000, representing an appreciation of about 2.3 times in 28 years.
