Centaline real estate Asia Pacific vice chairman and chief executive Chen Yongjie said, the bank statistics of the 56 railway along the second-hand housing estates, although August recorded 292 cases of sale and purchase registration, compared with 250 cases in July rose by more than 10%, but still belongs to this year's second-lowest, more than 6% than the 798 cases in March, reflecting the effectiveness of the resumption of the short-lived; in August, there are more than nearly half of the housing estates foot price continued to fall, the most more than 10% decline.
Chen Yongjie believes that, in the face of the weak economy, the property market has clearly appeared price and volume of the phenomenon of falling, the upcoming October Policy Address, expect the Government to take action to reduce the spice to save the market, otherwise property prices will continue to sink, once the emergence of negative equity, will be triggered by the collapse of the property market.
Hong Kong's property prices continue to fall, the latest Centa-City Leading Index CCL at 162.40 points, down 0.20% week-on-week. CCL fell for three consecutive weeks a total of 1.83%, the index hit a new 28-week low, back to the level of February this year.
The highest number of transactions in August was recorded in South Horizons, Ap Lei Chau, with 22 transactions, a 3.5-fold surge month-on-month, followed by Mei Foo Sun Chuen in Lai Chi Kok and Kingswood Villas in Tin Shui Wai, which also recorded 21 transactions. The Azure Crescent in Tseung Kwan O was the most outstanding, with the number of transactions increasing from only one in July to eight in August, representing a 7-fold surge month-on-month, while the average square footage price fell by more than 1% month-on-month to $15,704. There were still five zero-transaction housing estates.
Recently, the second-hand market is dominated by price cuts and erosion of concessions, causing property prices to continue to be under pressure. 26 out of 56 railway estates saw their square footage prices fall, with four of them dropping by more than 10%, including The Belcher's in Mid-Levels West, Hong Chak Garden in North Point, Parkview Bay in Tai Kok Tsui and Metro City in Tseung Kwan O. The Belcher's dropped the most, with its square footage price dropping from $26,338 to $23,178, representing a month-on-month drop of 12%.
Kingswood Villas' price dropped again and again, after falling below $10,000, it lost the $9,000 mark again in August. The average price of a registered sale in August was only $9,800, a three-month low, but the figure only reflected the situation in July, and did not yet reflect the factor of the interest rate hike in August, which made the actual market situation even worse.
Centaline Property Tin Shui Wai Deputy Regional Sales Director Ng Yiu Chau said, by the new property frequently split price, interest rate trend is not clear, the market is weak and other factors, buyers enter the market attitude of prudent wait-and-see, unless it is the price will enter the market, Kingswood Villas has been four consecutive months only more than 10 transactions, which is a historically low level, recorded in August, 16 cases, month-on-month, no increase or decrease in the month, the average utility footage price of the month even more month-on-month a sharp decline of 8.1%, fell through the 9,000 yuan! This month, the average utility price even fell sharply by 8.1% month-on-month, falling through the $9,000 barrier, reported $8,998, a record low of nearly six and a half years after April 2017.
In addition, the Kingswood Villas two times in the month lost 4 million yuan, which Lakeville 5 low floor E room, is an area of 448 square feet 2 rooms, in June this year to 5 million yuan to put on the market, and even reduced more than 10 mouth price, cumulative reduction of more than a million final 3.98 million yuan to sell, foot price of 8,884 yuan.
Yau Tong and Tseung Kwan O in a month, there are two new disc low price sale, the opening price as low as 2.9 million yuan, snatch away a large number of market purchasing power, owners want to sell goods as soon as possible, but have to reduce the price, or even low market price to reach a deal, etching let tide has spread to the railway disc.
The second-hand property market has recorded four consecutive months recorded more than 100 cases of erosion letting, the first eight months of this year has recorded a cumulative total of more than 900 cases, equivalent to about 1,002 cases in 2022 nearly 90% of the annual. 110 cases of erosion letting in August, among them about 30 cases of the railway plate, LOHAS Park
LOHAS Park was the hardest hit, this month there are 11 cases of erosion letting is from LOHAS Park, including LP6, Jinhai, SEA TO SKY and Leader etc., LP6 has accounted for 6 cases.
To count the sunrise LOHAS Park August erosion letting the largest a transaction, for LP6 Block 5 top floor featured household, utility area of 306 square feet, 1 room apart, even 135 square feet rooftop, the original owner to 6.8 million yuan to put on sale, and then reduced to 6 million yuan, and ultimately just cumulative reduction of 5.05 million yuan to sell, foot price of 16,503 yuan. The original owner purchased the property in 2019 for $6,791,000 with a book loss of $1,741,000, a significant depreciation of 25.6%.
Whether it is the MTR station superstructure "real" railway disc, or MTR station surrounding second-hand housing estates, the recent erosion is more and more alarming. Looking back at the railway discs sold in August, there were seven cases of price erosion of more than 20%.
Downstairs is the MTR Sai Ying Pun station exit, about 5 years into the occupation of Sai Ying Pun semi-new Gramercy art, earlier surprised a group of high-rise mini-Silver main plate to 60% below the purchase price of the auction, the opening price of only $ 4.1 million, and ultimately sold at $ 4.9 million, compared with the purchase price of $ 10.25 million in November 2018, a substantial depreciation of $ 5.35 million, or 52%, to become the most high-profile railway erosion letting case in recent years.
