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Better property market outlook for the second half of the year
Apr 27, 2023
Better property market outlook for the second half of the year Hong Kong
By   Wen Wei Po 
  • City News
  • Property Market Outlook
  • Transaction Quotes
  • Residential Property Prices
Abstract: The private residential property price index rose 1.36% month-on-month in March, the third consecutive month of growth, and a cumulative increase of about 5% in the first quarter, the index also saw a six-month high since September last year, the Department of Differential Valuation announced yesterday.

According to SHKP's Acting General Manager, Mr Hu Zhiyuan yesterday, the figures reflect a steady increase in the volume and price of property transactions this year, and the outlook for the second half of the year is expected to be better than the first.

 

In anticipation of the "May Day Golden Week", developers are taking advantage of the opportunity to launch properties. According to Wu Zhiyuan, University Hill in Pak Shek Kok, Tai Po, has received a steady stream of visitors since the opening of its show flats last week, and it is estimated that more than 8,000 registrations of interest were received yesterday.

 Better property market outlook for the second half of the year

As for the distribution of registered customers, about 70% came from the New Territories, about 20% from Kowloon and about 10% from Hong Kong Island. The majority of buyers were families, including branch families, while there were also buyers who wanted to buy a flat to improve their living environment.

 

The partnership of six major developers, including Henderson Land, China Overseas, Chinachem, Imperial, New World and Wheelock Properties, has also launched special offers to attract customers to Kai Tak Skyrail. The developer has partnered with Bank of China Hong Kong to offer buyers a mortgage offer, with an additional $6,888 Green Mortgage Reward for customers who choose to take out a Green Mortgage and an invitation to become a Bank of China Hong Kong "Private Wealth" customer to enjoy over $80,000 in rewards.

 

Henderson Property Agency Director and General Manager, Sales (2) said that since the official opening of the show flats for public viewing last Saturday, the market has been overwhelmed with enquiries about the 3 to 4 bedroom units with sea view. The first batch of units will be sold by tender from next Friday, with all units facing the sea, including 3 and 4-bedroom units.

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Better property market outlook for the second half of the year
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