Nearly 2 billion public housing sales this year

The property market is booming, driving the registered sales of second-hand public housing (including land premiums and unpaid land premiums) to record highs this year. According to the information of the Integrated Land Registry of the Midland Real Estate Data and Research Centre, 677 second-hand public housing transactions were recorded as of this week (24th), which is 5 more than the 672 cases in the whole year. It reached 1.975 billion yuan, about 17.6% higher than last year’s total of 1.679 billion yuan, approaching the threshold of 2 billion yuan, a record high.

47 cases in Chang’an Village

The total amount of second-hand public housing transactions in this year increased significantly year-on-year, mainly driven by the increase in cases of over $3 million. Liu Jiahui, chief analyst of Midland Realty, said that there were 272 cases of over $3 million in transactions this year, a record high of 77.8% from last year’s 153, a record high and the main driver of the record high value of second-hand public housing registrations during the year. On the contrary, the turnover of 3 million yuan or less was only 405, a decrease of about 22% year-on-year.

According to the information, among the 10 most publicly-owned housing estates in this year, the number of transactions in 6 public housing estates surpassed last year, one was stable year-on-year, and three were down year-on-year. Among them, Chang’an Village in Tsing Yi was trading this year. The largest number of housing estates were sold in 47 cases. The trading volume surged by 80.8% year-on-year. Followed by Huaming Village in Fanling, 42 transactions were recorded this year, and the trading volume was 1.47 times higher than the annual turnover. The third-ranked Taihe Village in Tai Po has 32 transactions this year, up 45.5% year-on-year.