The Zhitong Finance App learned that Zhongyuan Real Estate's top ten housing estates in Hong Kong recorded 131 transactions in August, an increase of 27.2% over the previous month. Chen Yongjie, vice chairman of the Asia Pacific region of Central Plains Real Estate and president of the Housing Department, said that the second-hand market picked up simultaneously on the first day of this month, reflecting the fact that the Hong Kong property market has now entered a recovery phase after being consolidated in June and July. Positive news appeared one after another this month, and there was no bad news. The Hong Kong stock market was also stable, which greatly boosted buyers' confidence in entering the market. New properties have already been deployed in September. It is believed that, driven by the first-hand sales atmosphere, the second-hand trading volume of the top ten housing estates is expected to rise by another 30% in September.
On the Hong Kong Island side, Zhao Hongyun, senior regional sales director of Central Plains Realty's Taikoo Shing Dongshan Court, said that Taikoo Shing's trading accelerated this month, recording about 19 transactions throughout the month, an increase of about 18.8% over the previous month. This is a new high in the past 3 months. The average practical square foot price is about HK$17,754, similar to last month. The overall trading atmosphere in Taikoo Shing continued to pick up, and high-quality listings were quickly accepted. However, at present, housing estate owners are generally tough, and some transactions take time to discuss. It is expected that housing estate property prices will maintain a steady, moderate and positive trend in the short term.
Lu Jinghao, the chief district sales manager of Ap Lei Chau Linan Road Branch in the Southwest District of Central Plains Real Estate, said that the first-hand market was active in August and attracted some second-hand attention. Fortunately, the customer base of the two was different. Haiyi Peninsula trading was not greatly affected. Housing estates recorded 11 sales transactions in August, two more transactions than in the previous month, about 22.2%. The average utility price was recently reported at HK$16,361, up 6.4% from the previous month. Overall market conditions showed a sharp rise in price volume.
On the Kowloon side, Fung Kin-ping, the division sales manager of Central Plains Real Estate West Kowloon Mobil Mastercard Branch 3 said that at the end of the summer vacation, the first-hand market is still very lively, stealing the focus of the market. Fortunately, second-hand trading in the region has not been affected by the new market. Mei Foo Sun Chuen recorded 15 transactions throughout the month of August. As with the previous month, transactions were stable. The trading atmosphere in the market is steady, and second-hand property prices in the region are also slowly rising. The average utility price of Mei Foo Sun Chuen was recently reported at HK$11,642, up 7.4% from the previous month, reflecting the undiminished confidence of buyers in the future market. I believe the boom will continue until September.
Kwan Wai-ho, Deputy Division Sales Manager of the Blue Bay Branch of Central Plains Real Estate, said that Metropolis finally recorded 12 transactions in August, rebounding 1 times from July. Trading was strong, all because landlords saw new listings sold at low prices and were also willing to consider price adjustments to attract buyers to enter the market. The average utility price for housing estates this month was HK$15,355. The average utility price for housing estates this month was slightly adjusted by 0.5% from month to month, showing volume price increases and falls. The new market war will continue in September, and second-hand trading will be difficult to avoid being pressured. I believe that owners tend to have a peaceful bid attitude. As the trading atmosphere in the big market improves, second-hand trading in the region is improving steadily.
On the New Territories side, Wu Cheuk-shing, Deputy Regional Sales Director of Central Plains Real Estate's Shatin First Town Branch, said that under the impetus, the market entry atmosphere was positive this month, and buyers were confident enough to enter the market. Shatin First City recorded 15 transactions this month, an increase of 25% over the previous month. The average utility price is about HK$13,778. It is expected that market conditions will continue to improve in September, which is expected to further drive second-hand transactions.
Zhang Qiwei, the division sales manager of Central Plains Real Estate's Tung Chung Ying Wan Park Branch 2, said that due to first-hand sales, Tung Chung Yingwan Park's trading accelerated this month, recording 10 transactions, a 1-fold increase over the previous month. The average practical price was about HK$10,486. Although the current pricing attitude of second-hand owners is relatively tough, the first-hand market has accumulated a large number of customers, driving many buyers to switch to “treasure hunting” in the second-hand market. Currently, overall buyers' confidence in entering the market is still sufficient, and it is expected that housing estate transactions will continue to be active next month.