2025-02-24 28HSE 编辑部
Despite remaining largely stagnant, the secondary property market in Hong Kong exhibited a minor recovery with six transactions recorded at 10 prominent housing estates over the last weekend. This activity occurred alongside substantial discounts offered by new projects.
Over the weekend, Centaline Property noted six transactions across the 10 estates, reflecting an increase of one compared to the prior weekend.
This marked the sixth straight weekend with single-digit deal numbers, showing a gradual rise from a previous low, however, half of the estates still reported no sales.
Louis Chan Wing-kit, the Asia-Pacific Vice Chairman of the Residential Division at Centaline, identified the new Yoho West residential development in Tin Shui Wai as a significant draw. The project released its first batch over the weekend at a highly competitive price, attracting a substantial number of potential buyers.
On Saturday, Sun Hung Kai Properties (0016) launched the first batch of Yoho West, featuring 350 flats with prices between HK$2.99 million to HK$10.99 million after discounts.
Chan observed that this low pricing strategy has affected the secondary market, particularly in the New Territories. It encouraged some owners of second-hand properties to increase their negotiation flexibility, helping stimulate activity in the otherwise sluggish secondary market.
In the meantime, Midland Realty also reported six transactions at 10 key housing estates, up from five the preceding weekend. This marked the sixth consecutive week of single-figure home transactions.
In Lai Chi Kok, a 638-square-foot flat in Mei Foo Sun Chuen sold for HK$6.9 million, resulting in a paper loss of HK$1.55 million for the owner over six years.
Yoho West successfully sold 338 out of the first round's 350 flats, equating to 97 percent of the total. This result made it the best-performing new project in four months, generating over HK$1.78 billion from the sale of the 338 flats.
Victor Lui Ting, Deputy Managing Director, indicated that, given the high demand from previously subscribed buyers who were unable to secure a property, they plan to quickly release additional units.
Yoho West is preparing to offer more flats as early as today, with a focus on studio apartments. The second round of sales is anticipated to happen over the forthcoming weekend.
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