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Second-hand price cuts continue
Second-hand price cuts continue 香港
By   Wen Wei Po
  • 城市報
  • Transaction Quotes
  • Hong Kong Property Market
  • Hong Kong Property
Abstract: The property market continues to be subject to interest rate hikes and the economic outlook is not clear and other negative factors, especially in the second-hand market because of the low price of the new discs to grab customers and stagnant transactions, the only way for small owners to reduce prices to attract customers, resulting in the second-hand erosion of the tide continued.

Centaline Property Hu Yaizu said, first-hand discs low prices to grab customers, the second-hand atmosphere fell back significantly, Ma On Shan District this month temporarily recorded about 27 second-hand transactions, compared with the same period last month fell about 15%.

 

Among them, Banyan Tree has just recorded the first transaction this month, for Block 2, low-rise H room, area 315 square feet, bargained 400,000 yuan after 5.2 million yuan, foot price of $16,508. The original owner purchased the unit in 2019 for $5.45 million, holding the unit for 4 years with a book loss of $250,000 or 4.6%.

 

Tuen Mun Man Ming Shan also recorded a case of erosion, Centaline Property Tam Kwok Wai said, Man Ming Shan this month recorded a transaction, for the full court Block 7, mid-floor room C, area of 598 square feet, the original owner of the original price of $ 7.6 million in January to put on the market, and after a series of price reductions, and ultimately sold for $ 6.28 million, foot price of $ 10,502, or a reduction of 17%. The original owner bought the unit in August 2016 for $7.023 million in one lot and held it for seven years, with a book loss of $743,000 or 11%.

 Second-hand price cuts continue

Second-hand property prices continue to bottom out and the market continues to record low-priced transactions. Centaline Property Wang Qinxue said that the Yau Tong new property split price flat sale, the second-hand market is almost frozen, the only way to sell owners have to sell their goods at a split price.

 

Yuen Long District recorded only about 17 second-hand sales transactions this month, more than 40% less than the same period last month. Over the past weekend, there were only three second-hand sales in Yuen Long, including Grand YOHO, Block 2, Middle Floor, Room C, with an area of 595 square feet, the initial asking price of $12 million in May, after a series of price reductions, a cumulative reduction of about $ 2.25 million, or 19%, and ultimately sold for $ 9.75 million, for the estate's three-bedroom units this year, the second-lowest price.

 

The original owner bought the flat in September 2016 for about $9.556 million, making a profit of only $194,000 or 2 per cent.

 

Midland property Ling Kwong Shing also said, Ma Wan Perlis Bay, Block 19, low-floor flat E, area of 490 square feet, the unit was put up for sale at $4.98 million, was the area of the young on board the customer bargain of $350,000, to $4.63 million to undertake the foot price of $9,449, is a low market price, but also create the same seat of the housing estate to the unit of the new low price in recent years.

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Second-hand price cuts continue
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