On the last Saturday and Sunday of the first half of this year (June 24 and 25), the four major agents recorded a significant increase in transactions of the second-hand housing estates. The top 10 secondary housing estates recorded a total of 9 transactions, up 80% week-on-week, and the number of "zero transaction" estates also decreased to 3, with transactions hitting an 8-week high.
Midland Property Residential Division Chief Executive Officer (Hong Kong and Macau) Bu Shao Ming said, the United States last week again to show the tough attitude of interest rate hikes, coupled with the mainland did not put forward further measures to boost the economy, the market's two visions dashed, directly to the investment market blowing a cold wind, the HSI fell below the 19,000 point mark on Friday, while dragging property prices down slightly.
However, the softening of property prices coupled with this weekend's large-scale brand-new plate truce, but also to attract some buyers back to the second-hand, the weekend indicator housing viewing volume has rebounded significantly, along with the low level of rebound in trading. He believes that short-term second-hand property prices are still downward pressure, mainly because of the large number of new discs launched in the future, and "high quality, low price, large volume", the owners are eager to ship the price must be reduced for sale, so that property prices are easy to fall difficult to rise. In addition, the new developments and the summer rental season, but also affect the second-hand sales transactions.
Centaline Property Asia Pacific Vice Chairman and President of the residential department, said Chen Yongjie, the U.S. Federal Reserve to suspend interest rate increases slightly to increase buyers' confidence in the market, coupled with the Hong Kong government is also studying the fine-tuning of the first mortgage percentage ratio, the property market is also good news, the first-hand market is quieter this Saturday, part of the corner back to the second-hand customers, coupled with some of the eager to release the owners are also willing to increase the bargaining space, slightly driven by the second-hand transactions.
The second-hand market continues to record low prices. Midland property sales manager Li Guangshun revealed that the Tsuen Wan Center, Block 8, high-rise A room, practical area of 422 square feet, the principle of two rooms, the original owner in February this year, the opening price of 4.8 million yuan to put, due to the eagerness to go, nearly a week to reduce the price to 4.2 million yuan, and finally to 4.08 million yuan, the price of 9,668 yuan, for the estate nearly three months, the price of a square foot fell below 10,000 yuan again. Reference to past transactions, the same block a low 4 floors of the same area units sold in May 2019 to 5.35 million yuan, the foot price of $ 12,678, is a new transaction than 4 years ago the high price of 23.7%.
