Centaline Property's top 10 estates recorded a 4-week drop in the number of weekend bookings, with only 440 bookings this weekend, down 10.2% week-on-week and a new 11-week low, just above the 345 bookings recorded during the Chinese New Year week this year, and 935 bookings during the 4-day Easter holiday, also a 3-year low for the Easter holiday.
Centaline Property's Chief Executive Officer of the residential department, Mr. Chan Wing Kit, said that in the past three years, due to the impact of the new epidemic, Hong Kong people mostly stay in Hong Kong to avoid the epidemic, and will take advantage of the long holidays to go out to look for properties to explore the market, this year, the normal customs clearance of various countries, Hong Kong people reported to travel to spend the festive season, so the atmosphere of property viewing has dropped suddenly, coupled with a number of new construction prices tend to restrain in recent months, locking up some of the purchasing power, it is expected that after the long holidays, secondary transactions will return to normal.
On Hong Kong Island, Centaline Property's senior regional sales director in Taikoo Shing, Chiu Hung Wan, said the first-hand new property market continues to be hot, and second-hand transactions are hardly free from pressure.
Taikoo Shing has recorded four transactions so far this month, with an average price of $18,332 per square foot. This weekend coincided with the long Easter holiday, and the viewing sentiment in the area was quiet. The number of viewings remained at 30 bookings this weekend, while 60 bookings were recorded for the four-day holiday.
Centaline Property Kornhill Hong On Street Branch Chief Divisional Manager Yeung Man Kit said, into April, the trading atmosphere in the area is stable, Kornhill District has recorded four transactions, Kornhill Garden accounted for three, the average price of $14,608 per square foot.
This weekend coincided with the four-day Easter holiday, some people chose to celebrate the holiday with their families and delayed entering the market, so the number of appointments for viewing properties dropped slightly this weekend, recording 30 groups, down 14.3% week-on-week.
In Kowloon, Centaline Property's Whampoa Station Deputy Divisional Sales Manager Prince Kin said Whampoa Garden has recorded about four transactions so far this month, with an average price of $15,211 per square foot. Although a large number of people went out to travel during the long Easter holidays, there were no brand new properties for the first round of sales during the long holidays, so the purchasing power was not snatched, and potential buyers would still visit the district.
Whampoa Garden has remained stable this weekend, with 50 bookings and about 80 bookings during the four-day holiday.
Senior Divisional Sales Director of Centaline Property's Tseung Kwan O Metro Station branch, Mr. Ko Yung, said that with the long Easter holiday approaching, a large number of people went out to celebrate the festive season, making the property viewing atmosphere in the area remain quiet.
Metro City recorded 40 bookings this weekend, down 20% week-on-week, while 85 bookings were recorded during the four-day Easter holiday. The estate has recorded two transactions so far this month, with an average price of $16,160 per square foot, which is expected to be mediocre during the holiday.
In the New Territories, Centaline Property's Regional Sales Director of City One Shatin Branch, Mr. Lai Chung Man, said that with the full recovery of Hong Kong, Hong Kong people who have not travelled for a long time have taken advantage of the long holiday to go out for sightseeing, and some owners have also stopped opening their doors to look at properties, so the number of property viewing activities is obviously lower than last week.
City One Shatin recorded 40 bookings this weekend, a 20% drop week-on-week, and a total of about 150 bookings over the four-day holiday. As this Easter holiday is the first long holiday after the resumption of normal practice, prospective buyers preferred to travel and delayed entering the market, so transactions are expected to be slow during the holiday.
Centaline Property's Deputy Regional Sales Director for Tin Shui Wai, Mr. Ng Yiu-chor, said this Easter holiday is the first long holiday in Hong Kong after the resumption of normal practice. The estate recorded 33 transactions last month.
With the long holiday effect and the continued improvement in the property market, owners are in no hurry to sell their properties, so it is likely that the number of transactions this month will be lower than last month.
