The number of housing estates whose price per square foot fell below $10,000 in the 133 constituent estates of the Centaline City Leading Index CCL increased from zero supply at the beginning of the year to five last week, the most in more than four years, with the largest number of properties in the western New Territories.

According to the data of Rating and Valuation Department, Hong Kong private residential property price index fell to 352.4 points in October, down 5 months in a row, down 2.41% month-on-month, down 11.01% year-on-year, down to a low of nearly 5 years.

In fact, affected by the epidemic and interest rate hikes, buyers generally wait and see reluctant to enter the market, Hong Kong's second-hand property prices continue to fall, along with a number of blue-chip housing estates per-square-foot prices have successively lost 10,000 yuan barrier, "eight, nine thousand mosquitoes a square foot" of second-hand private buildings abound, flat than "white residence two".

In the past few months, the number of CCL constituent estates with a price per square foot below 10,000 yuan has been hovering two or three, the regular customers include Tsuen Wan

Tsuen Wai Garden, Sham Tseng Lido Garden and Kingswood Villas in Tin Shui Wai.

With the sharp drop in property prices, owners split prices to attract buyers, last week two more housing estates joined, including Tsuen Wan City Garden and Yuen Long Butterfly Crest, so that the number of CCL estates priced below $10,000 per square foot increased to five, the most in four years after January 2018.

New Territories West involves 32 CCL constituent estates, the current per-square-foot price of less than 10,000 housing estates, also all from New Territories West, accounting for about 15% of the constituent estates in the region.

About 35 years of age of the Lido Garden, last week's transaction per square foot price fell to $ 9,465, compared with the previous week per square foot price of $ 10,602 fell 11%.

Check the data, Lido Garden has more than 5 years feet price has not seen "four figures", the last time in February 2017, and then compared to the July 2020 feet price high of $ 13,357, has fallen back 26%.

As for the Butterfly Crest, the price per square foot also fell below $10,000 for the first time in five years, falling to $9,977 last week.

Centaline Property Yuen Long deputy regional sales manager Wang Qinxue said, many car users to take advantage of the substantial adjustment in property prices to enforce the flat, driving transactions to speed up, Yuen Long in November so far has recorded about 67 transactions, similar to the whole month last month, nearly 20% of the unit price less than 10,000 yuan per square foot.

Butterfly Crest recorded four transactions in November, one per square foot price of less than 10,000 yuan, for the middle floor of Block 2, Room A, a 3-bedroom household with a saleable area of 574 square feet, the transaction price of $5.48 million, per square foot price of $9,547, can be said to be equal to the HOS flats in Tin Shui Wai without land premium.

The new phase of "White House II" with 4,500 places will be put on the market one after another, making the HOS transactions revitalized again recently.

In Tin Shui Wai, for example, more than 40 transactions have been recorded in the HOS II market in November, with the price per square foot of Ping Yan Court reaching a high of nearly $11,000, higher than private buildings in the same area, and the average price per square foot of Kingswood Villas this month is less than $10,000, only about $9,636.

 Tsuen Wai Garden per-square-foot price has fallen for 8 weeks in a row, a cumulative drop of 10%, last week per-square-foot price fell further to $ 8,746, the lowest per-square-foot price in Hong Kong CCL constituent estates.

The estate has recently turned to strong trading, with four transactions recorded in November, including a 2-bedroom mid-rise in Block J, with a saleable area of 477 square feet for $3.8 million, at a price of only $7,966 per square foot.