Midland's top 10 estates recorded six transactions over the weekend, a week-on-week drop of 57.1 per cent, back to the single-digit level.
Midland Property Residential CEO (Hong Kong and Macau) Bo Shao Ming said, although Hong Kong has a bank in the middle of the month to raise the interest rate mortgage cap, disguised as an interest rate hike, but last week there are still some buyers stealing into the market to drive the second-hand transactions, but the U.S. interest rate this week, even if the interest rate is generally expected to remain unchanged, the second-hand market wait-and-see atmosphere is still strong, resulting in just past the weekend second-hand indicators of the court transactions slipped once again, and continue to hover at a low number of units. He expects that due to the deployment of a number of new flats for sale, the market will continue to be sluggish.
He expects the market to remain dominated by the primary market due to the deployment of a number of new developments for sale, and believes that purchasing power will only return to the secondary market when the market becomes clearer after the announcement of the interest rate outcome.
Centaline's top 10 estates also recorded six transactions over the weekend, a week-on-week drop of 53.8 per cent.
Mr Chan Wing-kit, vice chairman and president of the residential division of Centaline Property Asia Pacific, said that the major banks have raised mortgage rates one after another, coupled with the Federal Reserve Board will discuss interest rates this week, under the cloud of interest rate hikes, the second-hand market has a strong wait-and-see atmosphere, and the second-hand transactions are in a stalemate situation.
Ricacorp Real Estate President Liu Weiqiang said, due to the United States later this week announced the results of the interest rate, coupled with the recent market more discussion of the policy address will be reduced spicy, so that the wait-and-see atmosphere has turned thick, part of the price reduction plate was absorbed, the buyers and sellers again present tug-of-war situation, coupled with the recent developers and then new large-scale real estate market launch, robbed the market focus, Ricacorp ten estates over the weekend to record seven second-hand transactions, a decline of 41 per cent on a weekly basis. The number of second-hand transactions in the top 10 Ricacorp estates recorded over the weekend dropped 41 per cent week on week.
Hong Kong real estate CEO Ma Taiyang that the third quarter of the new low-priced sale to seize the market purchasing power, prompting many second-hand owners also face the reality of adjusting the asking price, price cuts in the sale of customers has become the new normal in the market. However, the U.S. Federal Reserve will be announced in the early hours of Thursday (21) Hong Kong time interest rate results, interest rate hike cycle has become the focus of whether the top, prompting prospective buyers to enter the market attitude of caution, the wait-and-see atmosphere continues to be the top ten estates over the weekend turnover is still hovering at a low level. Hongkong Land recorded 4 secondary transactions over the weekend, a week-on-week drop of 42.8%.
As for the primary property market, the first price list of "Kai Wo Shan" in Tuen Mun, a co-development project between Lujin Properties and Shenzhen Holdings, was announced recently, involving 140 units. Market sources said that subscription registrations have been accepted since last Saturday (16th), and a total of 2,500 subscription registrations were received at the end of the week, which is over 16 times of the total number of subscriptions.
Changshi Group (1113) and SHKP (0016) development of Flyer Phase 1, has announced that it has been issued with an occupation permit and is preparing to open the existing units to the public for viewing in the near future, and it has received a lot of enquiries in the past few days. Yang Guiling, Assistant Principal Manager of Sales Department of CKSL, said that the preparatory work for the opening of the existing flats is nearly completed, and hopes to open the flats to the first batch of VIP customers for viewing within this week. Meanwhile, a new payment plan will be specially designed for tenants and professionals to cater for their needs.
In addition, Mr Yeung Chung-wing, Director of Marketing and Planning of China Land, pointed out that a unit of Singkai - The Embankment was sold yesterday, the unit is on the 32nd floor of Block 2, Flat B, with a usable area of 481 sq ft. It is a two-bedroom flat with an open kitchen, and the transaction price is $9,980,000, with a price of $20,748 per sq ft. Together with the 5 transactions recorded last week, the project sold 6 units in 5 days, a total of $82,442,000, in response to the market demand, the property has uploaded the new sales arrangement for 2 consecutive days, a total of 10 units will be put on sale on Wednesday and Thursday. In response to the market demand, the property has uploaded new sales arrangement for two consecutive days, a total of 10 units will be put up for sale from Wednesday and Thursday.