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New property price cuts work
Aug 19, 2023
New property price cuts work Hong Kong
By   Centaline Property
  • City News
  • New property price cuts
  • Hong Kong housing market
  • property transactions
Abstract: Centaline top ten housing estates in the weekend recorded 333 groups of property visits, a rebound of 4.7%.

Centaline real estate ten major housing estates this weekend recorded 333 groups of appointment to see the volume of weekly rebound of 4.7%, but still at a low level. Centaline real estate residential department president Chen Yongjie said, the new market at low prices to attack the effectiveness of the market, rigid demand does not diminish, the first-hand sales of ideal, stimulate the overall atmosphere of looking at the property, part of the corner customers began to return to the second-hand, the main search for bamboo shoots into the market, if the owner to provide a reasonable bargaining space, the unit also has to undertake, however, in the short term, the market is still dominated by the first-hand, the second-hand inevitably be pressured, the volume of transactions continue to hover at a low level.

 

On Hong Kong Island, Chiu Hung Wan, Senior Regional Sales Director of Taikoo Shing East Hill Court of Centaline Property, said that the atmosphere of second-hand transactions is still at a low level, buyers are holding a wait-and-see attitude, and owners are also waiting to sell or tend to resell for rent, and second-hand transactions are stuck in a stalemate.

 

Taikoo Shing August temporarily recorded 7 transactions, compared with the same period last month, an increase of 1 case. Taikoo Shing this weekend to see the general atmosphere, recorded 25 groups of appointments to see the property, every foot of practical asking price of $ 17,600, according to the week flat.

 

Centaline Property Kornhill Kornhill Street Branch Chief Divisional Sales Manager Yang Wenjie said, a number of first-hand properties to capture the market at low prices, the second-hand market continues to suffer bombardment, in a frozen state.

 

Kornhill Garden in the first half of August temporarily recorded four transactions, similar to the same period last month, the average price of 14,342 yuan of practical feet. The atmosphere of the district to see the property is also affected, Kornhill Garden this weekend, the number of appointments to see the property and the price per square foot of utility are the same as last week, maintaining 20 groups of appointments to see the property and the price per square foot of utility to ask for $ 14,200.

 

Kowloon District, Centaline Property Whampoa, Whampoa, second branch of the district sales manager Yuen Hin-kan said, Whampoa Gardens in the past week trading stagnation, this month so far still recorded only two transactions, the average practical foot price of $ 14,633. This weekend, Hung Hom and Yau Tong new discs continue to push the sale of a new batch of units, continue to freeze the second-hand purchasing power, the area of the atmosphere of looking at the property is quiet.

 

Whampoa Garden this weekend to see the amount of property to maintain a low of 30 groups booked in recent months. It is believed that in the urban area under the new property price reduction war, the second-hand looking at the atmosphere is difficult to instantly reversed.

 New property price cuts work

Centaline Property Laguna City District Sales Manager Hong Jinxing said, Yau Tong new disc last weekend recorded more than expected ideal sales, the development of high also strike while the iron is hot, this weekend to push the project phase 1 of 219 units, continue to snatch the focus of the market, the second-hand transactions continue to be under pressure.

 

Laguna City this weekend to see the volume of recorded 40 groups booked, weekly no rise or fall, the practical price per square foot also maintain the same level of $ 12,800, it is expected to slow down the transaction.

 

In the New Territories, the Centaline Property Shatin Chi Fu City One branch regional sales manager Hou Huiliang said, the first city of Shatin so far this month temporarily recorded about 5 transactions, compared with the same period last month fell 50%, the new market price cuts in the war to steal a large number of customers, second-hand property owners negotiation margins are limited, the transaction is quite stalemate, this weekend recorded about 35 groups of property viewing, compared with the previous week slightly rebounded 5 groups or 16.7%, part of the Corner customers began to return to the second-hand, slightly boosted the atmosphere of viewing. Some of the corner customers began to return to the second-hand, slightly boosted the atmosphere of looking at properties.

 

Centaline Property Tin Shui Wai Deputy Regional Sales Director Ng Yiu Chau said that the recent outbreak of price cuts in the urban area of the new property war, robbing the market focus and purchasing power, the second-hand property owners only have to expand the rate of reduction. With the expansion of the negotiation rate, there are also some new Yau Tong to the corner of the new disc customers back to the second-hand, Kingswood Villas recently look at the volume of a slight rebound, this weekend recorded about 50 groups of look at the property bookings, according to the weekly increase of 25%, the asking price continues to be adjusted back to the level of the week per foot of the practical asking price back down to $ 10,000 level, a drop of 4.8% compared with the last week. Housing estates this month temporarily recorded 5 transactions, believe that in the short term transactions are still dominated by the primary market, the second-hand is more difficult to get better.

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