Top 10 Housing Estates See 60% Weekend Surge, Highest in 7 Weeks
AM730 · 2 SOURCESabout 2 hours ago2 MIN
Summary
Mid-Autumn Festival holiday and new project launches sparked renewed activity in Hong Kong's secondary housing market. The top 10 housing estates tracked by Centaline Property recorded approximately 8 transactions this weekend, a 60% jump from last weekend and the highest level in nearly 7 weeks. Six estates still recorded zero transactions, though market sentiment has visibly improved. Industry experts expect the momentum to carry through the rest of the month .
Key Points
- Eight transactions were recorded across the 10 major housing estates this weekend, representing a 60% increase from the previous weekend and the highest volume since early August .
- Six of the 10 monitored housing estates still reported zero transactions, indicating uneven recovery across the market .
- Hong Kong Island saw only South Horizons record a deal, involving Unit G on Mid Floor of Tower 13A, spanning 882 sq ft with a four-bedroom en-suite layout and southwestern sea views, sold for HK$16.1 million at HK$18,254 per sq ft. The previous owner purchased the unit in September 2013 for HK$12.76 million, netting a profit of HK$3.34 million after 13 years, representing a 26% gain .
- Whampoa Garden recorded three transactions this weekend, including Unit H on Mid Floor of Tower 9, Phase 11, covering 505 sq ft with a two-bedroom layout facing west, sold for HK$7.62 million at HK$15,089 per sq ft. The prior owner bought the unit in February 2018 for HK$7.7 million .
- Tseung Kwan O's City One recorded two deals, with one involving Unit E on High Floor of Tower 9, Phase 2, measuring 538 sq ft with a three-bedroom en-suite layout, commanding HK$8.16 million at HK$15,167 per sq ft. The seller purchased the unit in 2018 for HK$7.5 million, yielding a profit of HK$660,000 .
Why It Matters
The sharp rebound in weekend transactions signals that new project launches are successfully injecting momentum into Hong Kong's sluggish property market. As reported by Centaline Property's Vice Chairman and Residential Division President, the strong sales performance of new projects is giving the secondary market a much-needed confidence boost . This could indicate a broader market recovery if the trend sustains through October, potentially benefiting both buyers and sellers in Hong Kong's highly sensitive property sector.
The sharp rebound in weekend transactions signals that new project launches are successfully injecting momentum into Hong Kong's sluggish property market. As reported by Centaline Property's Vice Chairman and Residential Division President, the strong sales performance of new projects is giving the secondary market a much-needed confidence boost . This could indicate a broader market recovery if the trend sustains through October, potentially benefiting both buyers and sellers in Hong Kong's highly sensitive property sector.