The property market has turned worse, and prospective buyers have a strong wait-and-see attitude
The number of trading in the 50 index housing estates in Hong Kong fell to 36 last week, a record low of more than 9 months.
Li Da Ge real estate director Chen Dawei said that prospective buyers are worried about the worsening economic outlook, the number of second-hand flats in various districts has decreased significantly, and the attitude of entering the market is quite cautious. According to the data of the Lijiage Real Estate Branch, the 50 indicator housing estates in Hong Kong recorded only 36 transactions last week, a further 25% decrease from the previous week’s 48 cases, a three-week losing streak and a 41-week period since the end of October last year (ie more than 9 months) new low.
The trading volume of the index housing estates in the three districts of Hong Kong Island, Kowloon and the New Territories fell across the board
Among them, the Kowloon area saw the largest decline. The 21 indicator housing estates recorded only 11 cases last week, which was 35% lower than the previous week’s 17 cases. There were only 2 transactions in Laguna City, Kwun Tong, which was 33% lower than the previous three.
A total of 5 transactions were recorded in the eight indicator housing estates on Hong Kong Island last week, a decrease of 2 or 29% compared with the previous week’s 7 cases. Among them, only one sale was made in Kornhill Garden, which was 50% less than the previous two. Only one transaction was recorded in the ancient city, which was held by Zhou Zhiping; Nanfeng New Village in Quarry Bay, Xinghua Village in Chai Wan, Lanwan Peninsula in Xiaoxiwan and Haiyi Peninsula in Ap Lei Chau.
30 estates “zero transaction”
As regards the 21 indicator housing estates in the New Territories, a total of 20 transactions were recorded last week, a decrease of 17% per week. The total number of public rental housing estates in Tin Shui Wai was recorded in 7 weeks, increasing by 2 or 40% per week. The first city of Sha Tin was recorded last week. 5 transactions, no rise or fall according to the week. In addition, among the 50 target housing estates in Hong Kong, 30 estates recorded a “zero transaction” last week, an increase of 30% from 23 in the previous week.
Chen Dawei pointed out that the funds did not dare to enter the market lightly. It is expected that the trading volume of the 50 indicator housing estates will still be under pressure in the short term.
Second-hand public housing transactions have been the first to turn weak. Huang Liangsheng, senior co-director of the Central Plains Real Estate Research Department, pointed out that in July this year, there were 46 records of second-hand public housing sales, with a total value of 136 million yuan, compared with 71 and 207 million in June.