Weekend second-hand transactions fell
Jan 9, 2023
Weekend second-hand transactions fell Hong Kong
By   Internet
  • City News
  • Second-hand property
  • property re-sale
  • property transactions
Abstract: The market is looking forward to 3 years of the first phase of Hong Kong and the mainland to resume regular customs clearance yesterday officially launched.

The news is good investment market atmosphere, but many prospective buyers have long been stealing steps into the market shoots, coupled with some of the release of the owners of the increased confidence in the market, narrowing the bargaining space, the four major agencies in the weekend just past second-hand transactions fell 30% to 48.1% by week.


The analysis is that, in the pass effect further play driven by the second-hand transactions believed to be after the New Year will be price and volume.


Centaline Property recorded 14 transactions during the period, down 48.1% week-on-week, while Laguna City and Yingwan Park recorded zero transactions.


Centaline Property Asia Pacific Vice Chairman and President of the Residential Division, Vincent Chan, explained that after the implementation of the news of customs clearance, both buyers and sellers are optimistic about the future market, some buyers jumped into the market as early as last week, resulting in fewer market shoots.


Owners see the pace of second-hand transactions accelerated, began to narrow the bargaining space or even counter-offer, while buyers are not willing to immediately catch up with the price, resulting in a tug-of-war transaction.


As for Midland Realty, 18 transactions were recorded, down 37.9% week-on-week, but double digits have been recorded for six consecutive weeks.


Midland Property Residential Division Chief Executive Officer (Hong Kong and Macau) Bu Shao Ming expected that, with the gradual resumption of economic activity in Hong Kong, it is estimated that under the further play of the effect of customs clearance, the property market transactions and property prices look good, property prices are expected to rise 10% to 15% for the year.


In addition, Ricacorp recorded 16 second-hand transactions over the weekend, down 30% on a weekly basis; Hong Kong Land recorded 13 transactions over the weekend, down 35% on a weekly basis.


In the first-hand market, the third phase of the Fanling development "ONE INNOVALE - Cabanna" of Henderson Land (0012) sold well yesterday, with a total of 45 units sold in price list No. 4 and the units offered for sale in the previous price list, and one unit won in the tender.


The group is actively considering to increase the price of the project in the near future.

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