Looking ahead to the second half of the year, industry insiders estimate that more than 14,800 new properties will be put up for sale, with the "Northern Metropolitan Area" and Kai Tak becoming the two main focuses. Due to the "high talent pass" and other talent policy to promote housing demand, the government intends to relax the mortgage arrangements for first-time home buyers, is expected to become the second half of the property market support point. However, the interest rate is not clear, such as the situation, the supply of new properties in the region, holding heavy developers will still adopt a low opening to 20% of the goods such as rotating sales strategy.
As one of the key areas of new property supply in the second half of the year, there are at least five new developments in the "Northern Metro Area" with a total of over 4,700 units to be launched. Pan Ocean's Hung Shui Kiu Hui Du I and II have both been approved for pre-sale and will be launched this month at the earliest, offering a total of 1,025 units, with the former accounting for 623 units, over 70% of which are two-bedroom units. In addition, the sale of YOHO Hub Phase C (939 units) at MTR Yuen Long Station and Tin Shui Wai Light Rail Tin Wing Station Phase 1 (1,393 units) by SHKP, and Parkland III (680 units) at MTR Kam Sheung Road Station by LU King's Tuen Mun CapitaLand (693 units) and Sino Land Partners K. Wah and China Overseas are scheduled to be launched.
Another key supply area is Kai Tak, with at least five new developments totalling over 3,600 units lined up for launch. The first is Henderson Land's HENLEY PARK in Kai Tak, with 740 units, which was the first to be sold last Saturday (1st of this month) with 228 units in the first round. Subsequently, SHKP's Tianxi Hai Phase 1 (256 units), located in the former runway area, is expected to be launched this month to tender, mainly for large units, with an area of about 1,100 square feet to 2,200 square feet of four-bedroom standard units, accounting for more than 70% of the whole, and another 23 special units, with a maximum area of more than 4,600 square feet.
Phase 1 of the same series, Kader Tianxi Tiandi, will also be available for sale, offering 906 units ranging from open-plan to four-bedroom units. In addition, K. Wah has partnered with Wheelock Properties and China Overseas for the launch of Kai Tak Bay I (1,017 units) and China Overseas' Harbour Twin Diamonds (702 units) in the next six months.
There is also a large scale supply at MTR Wong Chuk Hang Station on the south shore of Hong Kong Island, with Kerry, Sino Land, Swire Properties and MTR collaborating on the development of Island South Phase 4, Hai Ying Shan, which is divided into Phases 4A and 4B, providing a total of 800 units, focusing on two and three bedrooms. The former has already uploaded its sales brochure and is expected to go on sale in July. As for the development of Island South Phase 3, a joint venture between CIIC and MTR, it is expected to go on sale this quarter, offering 1,200 units, starting with two-bedroom units.
The same MTR development, Sunrise City, Tseung Kwan O, also has two new developments for sale, namely Sunrise City Phase 12 (1,335 units) by Wheelock Properties and Sunrise City CapitaLand III (644 units) by Sino Land and K. Wah Partners.
Midland's Chief Executive Officer of Residential (Hong Kong and Macau), Mr. Bo Shao Ming, said that as the economy returns to normal, developers will continue to actively promote properties in the second half of the year, with an estimated volume of about 9,000 to 10,000 transactions and about 16,000 for the year. However, the interest rate trend is still not completely clear, he believes that the second half of the new supply of areas, holding heavy large developers still take low open one to two percent of the goods such as the rotation of sales strategy, but the land bank less developers and luxury residential plate will be shy to sell, sales strategy will seek price first and then seek volume.
The president of Ricacorp Properties, Mr. Liu Weiqiang, believes that the "high talent pass" and other talent entry policy will certainly promote the demand for housing. At the same time, the government intends to relax the mortgage arrangements for first-time buyers and home exchangers to enter the market, which is expected to become a support point for the property market in the second half of the year. Looking forward to the second half of the first and second-hand private residential sales and purchases are expected to continue to rebound, expected 31,000 cases. He believes that in the resumption of the customs clearance effect continues, the economy and unemployment rate to further improve, small and medium-sized residential property prices in the second half of the year rose by 5%; in the high-end talent support, luxury housing is expected to record a 3% increase.
