Sino-US trade wars and local riots have affected all types of property transactions
The Union’s industrial and commercial shops have recorded the turnover of the top 50 Grade A commercial buildings in Hong Kong last month. Only 7 cases were recorded, which was a sharp drop from the 16 revised in July. 56%, temporarily the worst month of the year, between October and December last year, the 50 major buildings recorded 4 to 8 monthly.
Of the 7 transactions, 6 were recorded in the latter part of last month, reflecting a slight increase in trading volume at the end of last month
However, there were no transactions in Hong Kong Island last month. The operation director of the bank, Mr Wong Hung-cheung, said that investors are now becoming cautious and generally adopt a wait-and-see attitude. As a result, the transaction volume is close to “ice seal". Individual owners are now willing to expand the bargaining space by about 10% to 15%, if the price cut continues. I believe that it will attract some investors to enter the market, and the trading volume may be slightly rebounded.
In addition, a total of about 37 transactions were recorded in the overall commercial market in the last month
The total transaction value was about $1.458 billion, which was about 60% and 40% lower than that in July. It is expected that the sales and sales of commercial buildings in the second half of the year will remain at a low level, with the most significant decline in the core business buildings.