Peak South District expected 20% increase in turnover

The Legislative Council extended the tax rebate period from six months to one year on Thursday (November 11). According to the agency’s estimates, the measure will increase the desire of owners to switch buildings and stimulate the peak turnover of Peak and Southern districts by 20% or 30% Driven the overall second-hand property prices in the region recorded a 10% to 15% increase.

Benefit from the floor for the extension of tax rebates

He Zhaotang, director of Centaline Southern Peak and general manager of Hong Kong office of Greater China, pointed out that a total of 173 transactions were recorded in the first and second hand markets of Peak and Southern District last year, of which 141 were from the secondary market, accounting for about 81.5% of the overall turnover in the region. During the period, the number of second-hand deals increased by approximately 31.8% from 107 in 2016, representing an increase of approximately 23.5% to RMB19,864 million. During the period, the notable second-hand deal was purchased by Bergen Optical President Yang Jianwen for a total cost of 2.8 billion yuan Hilltop Prudential Road 1,3,5 housing, the transaction price of the region as a whole second-hand turnover of about 14.1%.

Mr Ho estimated that the volume of second-hand transactions in Peak and Southern District is expected to increase by another 20% to 30% this year as more private-equity funds and mainland developers find their way and the tax rebate period of floor renewal will be extended from six months to one year to stimulate the desire of developers. About 40% of the transactions are 200 million yuan or above, while the overall second-hand property prices can rise 10% to 15%