Yau Tong new property is sold out in 10 days with 886 units in two phases at a low price. The message behind is very clear, new flats in the urban area with a price of $15,000 per sq ft have successfully "tested the bottom", and with the new target, I believe it will enhance the confidence of other developers to launch new flats.

Due to the large amount of first-hand inventory and the possibility of the US interest rate hike in September, it is estimated that a number of new flats to be launched next month will continue to compete for customers, or even trigger a new round of low-priced rush to satisfy the consumption pattern of the public who want to enter the market only when they have to "resist" the market in the off-peak period.

In the past, the urban area of the new disc per square foot price of $ 20,000 or $ 30,000, but in recent years the launch of the urban area projects, per square foot price frequently see the "1-price", due to the low price effect triggered a large number of buyers swarmed out.

In August, there are 3 brand-new discs launched, including Yau Tong, Tseung Kwan O, LOHAS Park III and Hung Hom, Baker Creek, GREENWICH, due to the low price effect caused a large number of buyers to come out, a total of 1,020 units sold, the flat per square foot price of the highest sales of Oceanside Station, accounted for 85% of the total number of transactions.

In the past weekend, the last 44 units of Oceanaire Station were put on sale and 40 units were sold. The total number of units sold since the launch of the project on 12th of this month is 868, accounting for 98% of the total number of 886 units, with a cash flow of more than $5.6 billion.

As a result of the "deep water bomb" detonated by Cheung Kong Holdings, the number of first-hand transactions in August increased to nearly 1,200 units, a sharp rise of more than 80% month-on-month, a five-month high after the record of more than 2,100 units in March this year.

However, CKH's Principal Sales Manager, Mr Kwok Chi-wai, said he was disappointed that not all of the finalised units at Oceanaire Station had been sold, saying that the purchasing power of the market was still very weak.

The fact that the market has not been able to fully absorb the units offered in the current round of sales reflects that most of the purchasing power in the market may have been exhausted. This, coupled with a number of negative news that has recently flooded the market, has added to the stalemate in the property market, leading to buyers becoming more hesitant to enter the market and the number of secondary transactions shrinking significantly.

Kwok said, believe that the U.S. interest rates within the year there is still room for upward adjustment, there may still be one or two increases before the top, it is estimated that the second half of next year at the earliest, before entering the interest rate reduction cycle, the relative information mouth factors will still disturb the Hong Kong property market, into the fourth quarter of property prices will be more volatile, the expected volatility of about 10%.

In addition, Shun Lee (083), K. Wah International (173), China Merchants Land (978) and MTR (066) co-operation of Tseung Kwan O LOHAS Park III last Saturday, the first round of sale of 138 units, the same day, sold 74 units, cashing out more than 590 million yuan.

Coming into September, it is estimated that there will be at least 4 major new flats to be launched, providing more than 2,700 units in total. 2 of them are from New Territories West, including The Cove in Tuen Mun and The YOHO Hub Phase C in Yuen Long, providing a total of 1,632 units. The remaining two urban sites are Kai Tak Kai Tak Bay I and Wan Chun Yuen Street project.

Early years of Chinese investors actively scramble for land, Road King (1098) partner auction Shenzhen Holdings (604) development, located in Tuen Mun Guan Cui Road, low-density residential project Kai He Shan, last month has obtained pre-sale of uncompleted consent, providing 693 units, with flatted units and houses, the main 2-room households, the earliest early next month, the public announcement of the prospectus and the opening of the show flats.

Mr Chan Kin-chung, Deputy Director of Sales and Marketing of Pathway Properties, said, as the interest rate hike cycle is expected to come to an end, the property market in the second half of the year is optimistic. The project's selling price will make reference to recent first-hand and second-hand property prices in the same neighbourhood.

The developer acquired the site in 2017 for $3.17 billion at a price of $6,700 per square foot, 20 per cent above the valuation ceiling.

Another key project is The YOHO Hub Phase C, comprising Blocks 6 and 8 of SHKP's (016) Yuen Long Station, offering 939 units. The project was approved for pre-sale in April last year, and the expected completion date is September this year, which means that the project will be sold in the form of near-existing flats.

K. Wah International's Director of Sales and Marketing (Hong Kong Properties), Mr Wan Wai Ming, said that Kai Tak Bay is preparing for soft-sales and aims to launch in the third quarter, with a total of 1,017 units in the first phase. Kai Tak Bay will be developed in two phases, providing a total of 2,138 units. The developer has disclosed that the standard unit types of the property range from one bedroom to three bedrooms, and the opening price is very eye-catching.

Kai Tak has served as a reservoir of residential supply in recent years, and 12 projects in the runway area have been approved for pre-sale and are still inactive, involving a total of over 7,300 units. Among them, MIAMI QUAY II, which was awarded in June last year at the earliest, provides 571 units.

As for the largest number of units involved in the Kai Tak Bay, as well as China Overseas, Henderson Land (012), K. Wah International, as well as Wharf (004), 18 Shing Fung Road, Kai Tak, Phases 1A, 1B, 2A and 2B, providing 2,060 units.

In addition, Wheelock Properties' project at Chun Yuen Street in Wan Chai will provide about 80 units, focusing on boutique residences with the selling point of "one stop to Admiralty". The developer has earlier announced the launch of the project in September, and the project is now under soft sale.