Top 10 Estates Log Six Weekend Deals
AM730 · 2 SOURCESabout 1 hour ago4 MIN
Summary
Hong Kong’s 10 major housing estates recorded six transactions over the weekend of October 10 to 11, one more than the previous weekend, while the number of estates with no deals fell to five. Market watchers said ongoing launches of new urban residential projects continued to divert part of demand away from the secondary market, keeping second-hand activity broadly stable.
Key Points
- Centaline Property said the 10 major estates logged about six weekend deals, up 20% from a week earlier, with five estates recording no transactions.
- Sha Tin First City led with two deals, while Kornhill, Mei Foo Sun Chuen, Laguna City and Metro City each recorded one transaction
- Centaline’s Asia-Pacific vice chairman and residential chief executive Chan Wing-kit (陳永傑) said a first-round sale of 200 units at a Yau Tong project sold out on Sunday, and more units were promptly launched
- Chan said the first phase of a Hung Hom project was scheduled for sale on Monday, October 12, which was expected to tie up some market buying power
- He added that more large-scale launches were due in the coming weeks, with the new-home sales battle spreading into the New Territories and secondary trading likely to remain stable in the short term.
Why It Matters
For homebuyers and owners, the latest figures suggest the resale market is not weakening sharply, but it is struggling to accelerate while developers keep rolling out new projects at pace. In the near term, attention is likely to stay on primary launches, with secondary-market volumes moving within a narrow range unless fresh demand returns.