New Project Sales Heat Up Secondary Market; Weekend Flat Viewing Appointments Rise 1.3%-5.8%
SingTao · 1 SOURCESabout 2 hours ago2 MIN
Summary
Robust sales momentum in Hong Kong's new private housing sector is breathing new life into the secondary property market. This weekend's appointment viewings for housing estates climbed 1.3% to 5.8% week-over-week, marking a reversal after two consecutive weeks of decline. Real estate agents report that buyers who missed out on hot-selling new projects are increasingly turning to the secondary market, while the end of summer vacation is drawing overseas Hong Kong residents back to explore purchasing opportunities.
Key Points
- Centaline Property recorded approximately 364 viewing appointments across 10 major housing estates, up 5.8% week-over-week and reaching a 3-week high
- Midland Realty documented about 548 appointments for 15 indicator estates, rising 2.6% from the previous weekend's 534 groups
- Hong Kong Property Services Agency noted around 371 appointments for 10 indicator estates, up 1.9% week-over-week and hitting a 7-week peak
- Ricacorp Research estimated approximately 1,210 appointments across 50 indicator estates, up 1.3% from 1,195 groups
- Industry executive Chan Wing-kit (Centaline) noted that frustrated new-project buyers are expected to return to the secondary market seeking units
Why It Matters
The synchronized uptick across multiple property agencies signals a broader market recovery as accumulated pent-up buying demand begins to unlock. With September traditionally bringing active new project launches, the secondary market's warming trend could sustain as buyers compare both sectors before committing to purchases .
The synchronized uptick across multiple property agencies signals a broader market recovery as accumulated pent-up buying demand begins to unlock. With September traditionally bringing active new project launches, the secondary market's warming trend could sustain as buyers compare both sectors before committing to purchases .