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Hong Kong hit a 14-month low of 9 housing estates with zero transactions !
Hong Kong hit a 14-month low of 9 housing estates with zero transactions ! Hong Kong
By   Centaline Property
  • City News
  • Hong Kong Property
  • Estate Transaction
  • Hong Kong Housing Market
Abstract: Centaline Property's top ten estates recorded 1 transaction this weekend, 5 or 83.3% less than last week's record of 6, and 9 zero-transaction estates.

Centaline real estate residential department president Chen Yongjie said, recent market conditions are quite severe, after the epidemic Hong Kong's overall economic uncertainty, high interest rate environment, buyers to enter the market more considerations, the market is expected to property price adjustment is not complete, the wait-and-see atmosphere is quite strong, this weekend, Tuen Mun, the new discs sales situation is also not as good as ideal, according to the company to launch 90% of the mortgage insurance plan, but also on the buyer's desire to enter the market did not play a big role, some buyers are waiting to see how to get to the market next month! Some buyers are waiting for the Policy Address next month to announce more effective measures to reduce spice, and the second-hand transactions are quite stagnant in the short term.


Hong Kong Island, the three major target housing estates have not recorded transactions, the Centaline Property Taikoo Shing East Hill Court senior regional sales director Zhao Hongyun said, under the cloud of interest rate hikes, the second-hand market wait-and-see atmosphere is strong, trading in a stalemate situation, the HKMA recently relaxed the threshold of the mortgage insurance scheme for uncompleted flats, has not been benefited by the second-hand market, the majority of buyers are waiting for the next month's Policy Address to introduce more effective measures to reduce the spice, the atmosphere of the market in the doldrums.

Hong Kong hit a 14-month low of 9 housing estates with zero transactions !

The four major index housing estates in Kowloon district only Mei Foo Sun Chuen recorded 1 transaction this weekend, the deputy regional sales manager of Centaline West Kowloon Mei Foo MasterCard Branch 1, Mr Lam Ka Kit, revealed that due to the impact of interest rate hike and the sales of new flats are not as satisfactory as other factors, buyers enter the market more wait-and-see mentality, which affects the transaction.


Mei Foo Sun Chuen weekend recorded about 1 transaction, the unit for the three Broadway Street, No. 47, mid-floor room A transaction, the usable area of feet 520 square feet, 2 rooms apart, a few days ago after bargaining at $ 6.09 million sold, discounted usable feet price of $ 11,712.


And the New Territories three major indicators of housing estates are not recorded transactions, the Central Plains Real Estate Tin Shui Wai Deputy Regional Sales Director Ng Yiu Chau said, by the impact of interest rate hikes, coupled with the Policy Address will be released next month, many buyers expect the Government to launch a greater reduction of spicy measures, the overall second-hand atmosphere of wait-and-see, buyers on the market to consider more factors, slowing down the pace of the overall transactions.

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Hong Kong hit a 14-month low of 9 housing estates with zero transactions !
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