Secondary home sales stay weak at 50 estates
AM730 · 1 SOURCESabout 1 hour ago2 MIN
Summary
Hong Kong’s secondary housing market showed little improvement last week, even as transactions across 50 major estates edged up from 55 to 57 deals. Ricacorp Properties’ research head Chan Hoi-chiu said primary launches in the New Territories and Kowloon continued to absorb buying power, while the Chung Yeung Festival long weekend and outbound travel further dampened second-hand sentiment. He added that buyers are also turning cautious ahead of next week’s US interest-rate decision, with transactions expected to remain range-bound at low levels through the final two weeks of the month
Key Points
- Ricacorp recorded 57 transactions at 50 benchmark estates in the week of October 12 to 18, up nearly 4% from 55 a week earlier
- Despite the weekly rise, the total was still the second-lowest reading in about 10 weeks, showing no clear rebound in secondary-market momentum
- Hong Kong Island outperformed, with eight tracked estates posting 11 deals, up from five, as Taikoo Shing, Nam Fung Sun Chuen, Lei King Wan and Grand Promenade broke prior zero-sales spells
- The New Territories slipped to 26 deals from 27, while Kowloon fell to 20 from 23, with weaker activity at Tierra Verde, YOHO Town and City One Shatin
- Zero-transaction estates rose to 22 from 17, including 11 in Kowloon, nine in the New Territories and two on Hong Kong Island
Why It Matters
The figures suggest primary projects are still dominating near-term housing demand, leaving owners in the secondary market facing stiffer competition for buyers. With holiday-related disruptions and rate-watch caution overlapping, market participants may see limited price discovery and subdued turnover in the near term