This weekend, Centaline's top ten housing estates returned to below 400 groups of appointments, recording 375 groups of appointments, down 6.3% from last week. The peninsula fell the most, down 25%, followed by the Garden, down 20%, and Kingswood Villas, also down 17%. Centaline Property's president of residential department, Vincent Chan, said that the suspension of interest rate hikes in the United States instantly accelerated the pace of new property launches.
This month, the new property market is blossoming, Hong Kong, Kowloon and the New Territories have new properties on the market, and most of them are put on sale at market price or low market price. This week, there are two new developments in Wong Chuk Hang Station and Hung Shui Kiu in the northern metropolitan area, which are open for sale and accepting subscriptions from buyers.
On Hong Kong Island, Centaline Property Taikoo Shing senior regional sales director Chiu Hung-yun said Taikoo Shing recorded three transactions in July, similar to the four recorded in the same period last month, with an average practical price of about $18,652 per square foot. Taikoo Shing recorded about 25 groups of appointments for viewing this week, unchanged from last week, while the price per square foot rose slightly by 0.6% to $17,800.
Centaline Property Kornhill Kangan Street Branch Chief Divisional Sales Manager Yang Wenjie revealed that Kornhill Garden has recorded two transactions so far in July, with an average practical price of about $14,122 per square foot.
Some owners also took the initiative to lower the price to attract buyers to enter the market. Take the high-rise room 08 in Block P of Kornhill Garden as an example, the original asking price of the unit was $11.2 million, but the latest price was reduced by about 6% to $10.5 million. Kornhill Garden recorded about 35 groups of appointments this week, up 16.7% week-on-week, and the asking price per square foot of practical feet to maintain the level of $15,300.
In Kowloon, Centaline Property Laguna City Division Sales Manager Hung Kam Hing said Laguna City has recorded four transactions so far this month, with the latest average price of $12,610 per square foot. The second-hand owners in the area have been facing the reality, meet the actual customer price, but also willing to make concessions, expand the bargaining range to sell goods, so that the transaction is slightly accelerated, but the focus of the market falls on the Kai Tak first-hand new developments, the second-hand viewing atmosphere is still sluggish. Laguna City this weekend reported 35 groups of appointments, down 12.5% on a weekly basis.
The Centaline Property Tseung Kwan O Metro Station Branch Senior Divisional Sales Director Ke Yong said that the new metropolis this month, the transaction is at a standstill, so far has not recorded a sale transaction. In recent months, first-hand new property sales are ideal, reflecting the market does not lack of purchasing power, so that the owners of the heart of the majestic attitude of asking prices again turned tough, and the buyers to fight, forming a stagnant situation. New Metropolis this weekend only hovered at 45 groups of appointments, the practical price per square foot is maintained at $ 17,279, it is difficult to make a breakthrough in the transaction.
In the New Territories, Centaline Property Shatin City One Branch Regional Sales Director Lai Chung Man said that the recent market atmosphere is not clear, buyers are cautious attitude to enter the market, slowing down the transaction, Shatin City One has recorded about 2 transactions so far this month, because the two transactions are three-bedroom households, the average price of practical feet pulled down to about $ 14,182 level, the estate has not recorded about 45 groups this week, no increase or decrease compared to last week, most buyers now Expect larger bargaining space, the owners of most of the reduction does not meet the expectations of buyers in mind, the second-hand transactions continue to see-saw.
Centaline Property Tin Shui Wai Deputy Regional Sales Director Ng Yiu-tsu said, due to the overall market conditions are not clear, high interest rates, weakening buyers' confidence in the market, coupled with the Kingswood Villa owners generally have limited bargaining space, the new Hung Shui Kiu Hui are just launched at an attractive price, are causing pressure on the second-hand, this weekend Kingswood Villa booking viewing volume fell 17%, only 50 groups of appointments. Estate this month, the temporary record of 4 sales transactions, expected to continue to cowhide in the short term.
