Top 10 Estates August Deals Jump 27% as Market Recovery Takes Hold
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Secondary sales across Hong Kong's 10 major housing estates surged 27.2% in August to 131 transactions, according to Centaline Property, with nine of ten estates reporting increases. The brokerage forecasts a further 30% rise in September as new project launches draw buyers back to the market.
Key Points
- The 10 major estates recorded 131 secondary transactions in August, a 27.2% increase from July, with 9 of 10 estates showing growth
- Kornhill Garden, City One Shatin, and Tierra Verde each doubled their transaction volumes month-over-month, while only Mei Foo Sun Chuan held steady at 15 deals
- Price per square foot rose for five estates, with Mei Foo Sun Chuan and Laguna City both climbing 7.4% to HK$11,642 and HK$12,822 respectively
- Tai Koo Shing recorded its highest transaction count in three months at 19 deals, averaging HK$17,754 per square foot, while South Horizons fetched HK$16,361 per square foot, up 6.4%
- Centaline's Residential Division vice-chairman Christopher Chan noted positive market sentiment with no adverse news and a stable stock market boosting buyer confidence
Why It Matters
The August rebound marks a decisive shift from the June-July consolidation phase, suggesting renewed buyer confidence in Hong Kong's property market. With new projects poised to launch in September, the secondary market is expected to benefit from spillover demand, potentially sustaining this upward trajectory through the autumn selling season .
The August rebound marks a decisive shift from the June-July consolidation phase, suggesting renewed buyer confidence in Hong Kong's property market. With new projects poised to launch in September, the secondary market is expected to benefit from spillover demand, potentially sustaining this upward trajectory through the autumn selling season .