2025-04-28 28Hse Editor
Over the weekend, only six transactions were recorded across Hong Kong’s top 10 housing estates, marking a 57.1% drop compared to the previous week. This brings transaction levels back to the low point seen five weeks ago. Among these estates, six recorded no transactions at all. During the Ching Ming Festival long weekend, a total of 16 transactions were recorded across the estates.
According to Centaline Property, the primary market continues to dominate buyers' attention. The attractive pricing of new developments, combined with the Ching Ming holiday travel plans of some residents, contributed to the significant drop in transactions for these estates. Over the three-day Ching Ming holiday, more than 130 transactions were recorded in the primary market, with notable success in the sale of 69 units at In One Above. It's projected that primary market transactions in Hong Kong could reach 3,000 units this month.
On Hong Kong Island, Kornhill recorded only one transaction over the weekend. The unit in Block Q, a high-floor two-bedroom apartment with a saleable area of 466 square feet, sold for HK$6 million, translating to HK$12,876 per square foot. So far, the estate has recorded two transactions this month with an average price of HK$11,990 per square foot. At Taikoo Shing, one transaction was recorded over the weekend. The unit, located in Kwun Hoi Terrace Tung Hoi Mansion (mid-floor, Unit G), has a saleable area of 587 square feet. It sold for HK$8.53 million with a lease, equating to HK$14,532 per square foot. Taikoo Shing has recorded six transactions this month so far.
In Kowloon, Mei Foo Sun Chuen recorded two transactions over the weekend. One of the units, located on the lower floor of Block 110 on Broadway Street (Phase 8), has a saleable area of 855 square feet and a three-bedroom layout. It sold for HK$7.63 million, translating to HK$8,924 per square foot. Metro City in Tseung Kwan O recorded one transaction during the holiday period. The unit, located in Phase 1, Tower 5 (high-floor, Unit D), has a saleable area of 526 square feet and sold for HK$6.65 million, or HK$12,643 per square foot.
In the New Territories, Kingswood Villas in Tin Shui Wai recorded three transactions during the holiday, with one of them over the weekend. The unit, located in Block 13 of Kenswood Court (high-floor, Unit E), has a saleable area of 446 square feet with two bedrooms and an open view. It was sold for HK$4 million after a HK$200,000 price reduction, equating to HK$8,969 per square foot. The original owner purchased the unit in May 2017 for HK$4.16 million, holding it for eight years and incurring a loss of HK$160,000, representing a 3.8% decrease in value.
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