Last year second-hand house sales hit a record low

factors such as the Sino-US trade war and the turmoil of local regulations have continued to affect buyers’ confidence in entering the market last year, which has slowed down the trend of luxury home transactions in Hong Kong

Huang Liangsheng, senior co-director of the Central Plains Real Estate Research Department, pointed out that there were 344 second-hand house purchase and sale contracts recorded in 2019, with a total value of 10.168 billion yuan, down 29.5% and 34.8% from 488 and 15.589 billion yuan in 2018, respectively. The number of second-hand cases was a record low in 24 years since the record in 1996, and the amount was a 16-year low after 5.391 billion yuan in 2003, reflecting the impact of the Sino-US trade war and the storm of revisions.

The intention to enter the market was significantly lowered, so that the market for second-hand houses was weak and quiet

On the first-hand side, there were 240 first-hand bungalow sale and purchase contracts in 2019, with a total value of 22.486 billion yuan, an increase of 26.3% and a decrease of 18.8% compared with 190 and 27.704 billion yuan in 2018. The number of first-hand cases was a 7-year high after 364 cases in 2012, and although the amount recorded a fall, it was still the second highest in history. Huang Liangsheng said that it showed that there were new houses for sale in the past year, and the sales were satisfactory, which led to the rise of first-hand house transactions.

House market weakened in the second half of last year

On the whole, in 2019, there were 584 transactions in the sale of foreign houses (including first-hand and second-hand), with a total value of 32.654 billion yuan, down 13.9% and 24.6% from 678 and 43.294 billion yuan in 2018, respectively. The number of cases was a three-year low since 537 in 2016. Although the market for first-hand and second-hand houses was active in the first half of 2019, the sentiment in the property market softened in the second half of the year, and buyers turned to wait and see, slowing down the pace of market entry, dragging down overall house sales throughout the year.


Main page                                                                                                 Next page

發佈留言

發佈留言必須填寫的電子郵件地址不會公開。 必填欄位標示為 *