Top 10 Estates See Flat Weekend Sales
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
Weekend transactions across Centaline Property’s 10 major housing estates totaled five, the same as the previous weekend. The number of estates recording no deals fell by one week on week to six. Centaline said several high-profile new projects are preparing for near-term launches, shifting market attention toward the primary market and freezing part of the buying power. As a result, secondary-home transactions are expected to stay at low levels in the short term
Key Points
- Centaline Property recorded five weekend deals across the 10 major estates, unchanged from the previous weekend, while six estates posted zero transactions, one fewer than a week earlier
- Centaline Asia-Pacific vice chairman and residential chief executive Sammy Po Wing-kit said multiple new projects, mainly smaller and lower-ticket flats, are competing for attention before launch
- On Hong Kong Island, only Taikoo Shing recorded a deal for a second straight weekend: a mid-floor Flat C, Yin Pak Mansion, 897 square feet, sold for HK$15.2 million
- In Kowloon, Whampoa Garden logged two weekend deals, up one from the previous weekend; one was a high-floor Flat A, Block 14, Phase 2, sold for HK$7.35 million
- In the New Territories, Sha Tin First City recorded no weekend deal for a second consecutive week, although it had already logged four transactions in the first 10 days of the month
Why It Matters
For Hong Kong homebuyers and sellers, the latest figures suggest the secondary market remains thin even when the number of “no-deal” estates improves slightly. With developers focusing on smaller, more affordable new flats, resale owners may face continued pressure on pricing and transaction speed in the near term