More than 10,000 property transactions in May, a record high of nearly seven years
With the rising property prices, coupled with the sudden changes in the Sino-US trade war, agency expectations, or the impact of buyers into the market mentality, I believe that the overall registration will fall in June. The registration of the building sales and purchase agreements (including residential, parking spaces and industrial and commercial properties) recorded in May 2019 was 103.35 million and 90.316 billion yuan, up 4.5% and 3.9% from April.
The property market continued to be prosperous. The registration was nearly 10,000 for two consecutive months. It was the first time since the government introduced the buyer’s stamp duty and enhanced stamp duty in October 2012. In May, the amount reached a new high of 10 months after July of 1918, which was 99.367 billion yuan. The number of cases increased to 10,000 highs in the same period in November 2012, reaching a record high of nearly 7 years.
Tai Po Hai Ri Wan II recorded nearly 6 million transactions
For the overall residential sector, 8208 and 78.447 billion yuan were recorded in May, up 4.9% and 11.9% from April. The amount was only lower than the amount of 95.714 billion yuan in July 1997 and 90.382 billion yuan in April of the same year, the third highest since the record in 1996. The number was 8714 in October 2012, setting a new monthly high for more than 6 years.
For the first-hand private housing sector, 3206 and 31.769 billion yuan were recorded in May, up 16.3% and 15.4% month-on-month. At the end of April and early May, developers gradually sold new discs, resulting in a record high of 3,460 in September 2016, a three-month high in the past three years, and the amount reached a 10-month high in July 2018 after 34.84 billion yuan. For second-hand private housing, 4,640 cases were recorded in May totaling 43.298 billion yuan, which is similar to 4,623 and 43.521 billion yuan in April. Second-hand trading continued to be prosperous, with a record high of 4,600 and more than 43 billion yuan for two consecutive months.
The newest number of the highest number of registrations in May 2019 was Tai Po Hai Ri Wan II, which recorded 596 cases totaling $4.479 billion. The second is Montara, Phase 7A, Sunrise City, Tseung Kwan O, which recorded 513 cases totaling 4.094 billion yuan. The third reason is that Wen Tian Yu Hua recorded 206 totals of 1.546 billion yuan.
For second-hand private housing, 4640 cases were recorded in May totaling 43.298 billion yuan, which is similar to 4623 and 45.321 billion yuan in April. Second-hand trading continued to be prosperous, with registrations of 4,600 highs and over 43 billion yuan for two consecutive months. The number in May was a new high of nearly 5 years after 4,809 in July 2014. However, the upward trend in property prices and the negotiating direction of Sino-US trade war negotiations have led to a slowdown in second-hand trading. It is believed that the registration figures will fall in June.