According to the data of the Midland Realty, only the past three weekends (July 27 to July 28) only recorded about 3 transactions in the top ten blue-chip housing estates
The eight transactions on the weekend fell by about 62.5%, and maintained the single-digit level for 10 consecutive weekends. After two consecutive weeks, they fell back to three weekend lows. In the past 15 weekends, about 5 transactions were recorded, down by about 44.4% in the past week.
Second-hand turnover is in the low position
According to the statistics of the top ten estates, about 3 transactions were recorded in the three indicator estates (Tai Koo, Kornhill and South Horizons) on Hong Kong Island, which fell by 50% on a weekly basis. The four indicator housing estates in Kowloon City (Laigang City, Whampoa Garden, Sun City and Mei Foo New Village) recorded two transactions, which were similar to each other. The three indicator housing estates in the New Territories (Tsuen Wan Centre, Sha Tin Phase 1 and Kingswood Villas) were closed.
Bu Shaoming, chief executive of Midland Real Estate, said that in the past weekend, there was a large new launch of Pak Shek Kok
The first batch of 238 people sold out all day long. The market responded enthusiastically. Buyers’ desire to enter the market is still high. The second-hand market performance was very different. With the focus on this weekend, the blue-chip housing market was relatively weak. He continued to refer to the new disk deployment, freezing the market purchasing power, coupled with trade wars and social events, etc. It is expected that second-hand trading will be repeated in the low position. However, he also pointed out that the United States will meet at the end of the month, but even if the interest rate cuts in Hong Kong may not be reduced, the low interest rate environment will continue and it will still be beneficial to home buyers.
Liao Weiqiang, president of Lijiage Real Estate, pointed out that most of the owners still wait and see the development of social movements, and the US has a good chance to cut interest rates at the end of the month, and both China and the United States have restarted trade negotiations. The market conditions are mixed and the news is low. More, the second-hand housing market continued to be under pressure.