White House II also dispersed the purchasing power, Centaline Property Tin Shui Wai Deputy Regional Sales Director Ng Yiu-tsu said, Kingswood Villa recorded one transaction this weekend, for Kingwood Residence Block 6, high-rise C, saleable area of 546 square feet, 3-room partition, the transaction price of $5.44 million, saleable feet price of $9,963.

The original owner bought the unit in June 2019 for $5.95 million and held it for 3 years, with a book loss of $510,000 and an 8.5% depreciation in the value of the unit.

At present, not many owners are willing to reduce the price significantly, coupled with the new phase of "White House II" has been released, the purchasing power into the HOS market, so the Kingswood Villas trading is further stagnant.

In addition, according to Ricacorp's branch network data, 11 secondary transactions were recorded in the past Saturday (Nov. 26 to Nov. 27), a slight increase of one compared to the previous week (Nov. 19 to Nov. 20).

Liao Weiqiang, president of Ricacorp Properties, said that although the secondary market sentiment has slightly improved, but overall, market confidence is still lacking, coupled with the economic performance is still poor, so the transaction can only slightly rebound, continue to hover in the low double-digit.

Now the second-hand property prices have been adjusted back by 20%, so that property prices appear a certain "water level", some buyers also took advantage of the opportunity to return the price, with the owners face the reality of cutting prices, so that some large housing estates turnover is not to "hold the egg", and even gradually stabilized.

Liao Diao expects that when developers gradually launch focus properties, it will make the market atmosphere hot, and will make more second-hand owners soften their attitudes and promote the second-hand property market to turn better.