The decline in second-hand property prices has not stopped: the Centaline City Leading Index (CCL) recently recorded 162.31 points, a 262-week low, returning to the level of November 2017. for 6 consecutive weeks, with a total loss of 4.87%; Revenue from the top ten residential developments also fell to single-digit levels over the past two days over the weekend. Centaline Real Estate pointed out that a total of 9 transactions were recorded over the weekend, which is 2 fewer or 18% on a weekly basis. Whampoa Garden and Metropolis each recorded 2 transactions, making them the busiest residential developments; while the ‘Holding Egg’ housing developments decreased to 3, being Taikoo Shing, City One Shatin and Bayview Garden.
Bai Juer snatches the purchasing power of residential complexes in Shangche
Chen Yongjie, vice president of Centaline Property Asia Pacific and chairman of the housing department, said that second-hand transactions continued to be slow and the purchasing power of the new phase of white residences has emerged. Housing developments in the New Territories were hit the hardest, with only one transaction recorded at the three major housing developments over the weekend. There is a lack of good news on the market and second-hand properties are only accepted as the rate of decline increases. The number of cases of price reductions and losses has also increased. Buyers and sellers are waiting for good news such as customs clearance or price reductions before taking a decision.
According to market sources, Room H on the lower level of Block 3, Whampoa Garden Phase 4, has a usable area of 825 square feet and three rooms. The original owner was reported to have intended to immigrate. The unit went on the market in May this year for 12.3 million yuan. In the end, it cost 1.85 million yuan and changed hands at 10.45 million yuan. The price per square foot is about 12,667 yuan. The bank valued the site at 12.26 million yuan, compared to the current transaction price which is 1.81 million yuan or nearly 15% less than the estimated price. The original owner entered the market with 12 million yuan in April 2018 and now has a carrying loss of 1.55 million yuan; taking into account the actual loss of more than 2.22 million yuan, he left the market.
The price per sq.m.
On the direct side, CR Land (Overseas) and Poly Properties (119) co-developed Kai Tak Runway District Xinpan Yujing launched a tender for 118 units last week. Over the past two days, 3 units have been sold by row last weekend about 120 million yuan was collected. Among these, Room A on the 12th floor of Block 8, separated by three rooms, has a usable area of 1,525 m2. The building’s Hall A, with three rooms and a usable area of 950 m2 including a parking space, was sold for HK$36.5308 million, or HK$38,453 per m2.
Originally released on AM730 https://www.am730.com.hk/Real Estate/Top Ten Housing Estates Weekend 9 Transactions-Whampoa Sanfang lost two goals/348784?utm_source=yahoorss&utm_medium=referral
