According to the Centaline Property online listing information shows that the existing 40,449 second-hand private residential listings in Hong Kong, the asking price of less than 10,000 listings increased to more than 1,000, a sharp increase of 1.6 times.

With the increase in the number of properties put up for sale, many owners are eager to cash in and are willing to reduce their selling prices significantly, resulting in a sharp increase in the number of properties with asking prices below $10,000, which will again put pressure on the property market.

According to the Centaline property data, at the end of December last year, there were about 33,244 second-hand private properties on sale in Hong Kong, the price of 10,000 square feet or less accounted for 393, the proportion of about 1%.

But to this month, the overall number of second-hand offers has increased by more than 20% to 40,456, at the same time, the price of 10,000 square feet or less of the offer has recorded more than 1,000 units, to about 1,031 units, an increase of 1.6 times.

As for the distribution of properties priced at $10,000 per square foot or below, 90% came from the New Territories, with New Territories West accounting for the most nearly 900 and New Territories East also having more than 40; the urban area also gradually appeared within $10,000 per square foot, with 82 and 14 properties in Kowloon and Hong Kong Island respectively.

By housing estates, Tin Shui Tin Kingswood Villas has the most per-square-foot price of 10,000 yuan below the release, there are 320, accounting for about 30% of the overall release of the estate; followed by Sham Tseng Grand View Garden and Yuen Long Die Tsui Peak, each providing 57 and 22.

Hong Kong interest rate hike after the second-hand property prices to accelerate the decline, a number of private housing estates per-square-foot prices fell through the 10,000 mark, more from the second and third line housing estates spread to the property above the railway.

Comprehensive market news, recently there are at least 21 housing estates transaction per square foot price lost 10,000 yuan, Tuen Mun has become the hardest hit area.

Centaline Property Tuen Mun Regional Sales Director Kwong Ka-chun said that many owners have recently sold their properties at reduced prices, and the transaction price is lower than one wave. Tuen Mun Melody Garden recently recorded the first transaction this month, a low-rise F room, 591 square feet of saleable area, two rooms to three rooms partition, the initial opening price of $5 million, recently sold at $4.65 million, a reduction of $350,000 or 7%, the price per square foot 7,868 yuan, the transaction price and the price per square foot are a new low in the housing estate 2.5 years.

News that the Tseung Kwan O Cross Bay Tunnel and Tseung Kwan O Bridge is tentatively scheduled to open on December 11, prospective buyers to speed up in the adjacent bridge

Sunrise Hongcheng station housing estate to absorb the flat price within 10,000 yuan per square foot.

Sunrise Cannes has recorded about 14 transactions this month, of which 3 are less than $10,000 per square foot, the latest one is a low-rise LA room in Block 6 of The Peak, with a saleable area of 987 square feet, which opened at $13 million in May this year, until recently it was reduced to $9.52 million and finally sold, splitting the "3 ball", with a price of only $9,645 per square foot, which is more than the HOS.

Ping Shan Garden per square foot called 6,953 yuan by interest rate hikes and the stock market, the property market is quiet, November so far only about 17 second-hand transactions recorded in Tsuen Wan, more than 40% less than the same period last month, of which Tsuen Wan Center City Garden and Riviera Garden, per-square-foot price lost 10,000 yuan.

Seaside Garden per-square-foot price even reappeared "7-head", Block 19 very low floor B room, 700 square feet, three-bedroom partition, the opening price of $ 8 million in April, after a cumulative reduction of 2.6 million, finally to 5.4 million by foreign customers to undertake, per-square-foot price of $ 7,714, the price is about 20% lower than the estimate, the transaction per-square-foot price is expected to be 2015, the estate's 7-year low.

In the northern metropolitan area, the price per square foot is "6-figure". According to Centaline online listing, a 2,301 square feet house unit with four rooms and double parking spaces in Ping Shan Garden, Yuen Long was originally priced at $18 million, but is now available for sale at $16 million, at $6,953 per square foot.

Ping Shan Garden provides 10 houses, the latest transaction dates back to April last year, when house No. 3 changed hands for $16.68 million, with an area of 2,301 square feet at $7,249 per square foot.