Only 3 transactions in the top ten housing estates
Intern reporter Wu Hailun reported: The second-hand property market has turned weak in recent days, and the turnover of the top ten housing estates continued to be sluggish. In the top ten housing estates of Central Plains, only three transactions were recorded during the weekend, which fell by 40% on a weekly basis. Single-digit trading volume has been recorded for seven consecutive weekends. Among the top ten housing estates, only one transaction was recorded in Mei Foo New Village, Laguna City and Kingswood Villas. The number of zero-sale housing estates increased to seven, compared with 6 last weekend (August 11 to August 12). Zong, fell by more than 80% by week.
Bu Shaoming, chief executive of the Midland Real Estate Department, said that the second-hand property market turnover was low, and the relationship with the bank’s new mortgage lock limit was not significant. In recent months, a number of new discs have been on sale, and the price has been close to the market price, which has impacted second-hand transactions, resulting in a considerable part of purchasing power flowing to the new market. Even if buyers have a special liking for second-hand, they often tend to wait and see the development of the market as a result of trade wars and stock market volatility. Although the attitude of the owners is softer than before, they are willing to increase the bargaining range. However, it is still difficult to attract new offers from the new disk, and the property prices have accumulated a certain increase. There is still a distance from the counter-buyer’s counter-offer, which leads to the continued quietness of second-hand trading.
The bargaining space began to expand
Chen Yongjie, vice president and head of the residential division of Centaline Property Asia, said that the second-hand bargaining space has increased from 1% to 2% to the highest 5%. However, the market outlook is unclear, and the new price is also restrained. Second-hand transactions continue to be low.
Liao Weiqiang, president of Lijiage Real Estate, predicted that if second-hand owners still insist on asking prices, I believe that the second-hand trend will not improve in the short term. Bu Shaoming added that the short-term one is still the focus of the market. It is expected that the volume of first-hand transactions in August will range from 1400 to 1,500. During the period, second-hand trading will be at a level of about 3,500. It is expected that the new disk will return to the hackers, or the global economic outlook will accelerate, and second-hand transactions are expected to return to normal levels.
No transactions were recorded for the three indicator housing estates on Hong Kong Island, including Tai Koo Shing, Kornhill Garden and South Horizons. The four indicator housing estates in Kowloon, including Laguna City, Whampoa Garden, Sun City and Mei Foo New Estate, recorded only about 2 transactions, an increase from last week. For the New Territories, the three target estates, including Tsuen Wan Centre, Sha Tin Phase 1 and Kingswood Villas, recorded about one transaction, which was about 50% or less than the previous weekend.