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Secondary sales rise over the weekend

Secondary deals at ten major housing estates rose back to double digits over the weekend, increasing by 66.7 percent to 15 deals, after the Hong Kong government said it had no plan to cut stamp duty on residential properties, according to property agent.

Another agency also reported a 15.4 percent growth in the number of second-hand deals to 15 in ten blue-chip estates over the weekend, despite concerns over the fourth wave of the Covid-19 pandemic.

Agent said that the weekend sales showed the pandemic's impact on the property market is tapering off.

With hopes rising over Covid-19 vaccines, Po said some homeowners are considering raising prices, given the housing shortage in Hong Kong and the government's failure to address long-term supply issues or slash stamp duties in the latest Policy Address.

Meanwhile, the primary market reported more than 2,600 deals so far this month, hitting a more-than-20-month high.

Meanwhile, MinMetals Land (0230) sold 258 out of 279 units in Montego Bay in Yau Tong on Saturday while Henderson Land Development (0012) sold 60 out of 68 flats in Arbour in Jordan, and released the third price list, involving 36 units with an average price of HK$25,727 per sq ft.

(The Standard)

Homes market still too hot, reveals Chan

Financial Secretary Paul Chan Mo-po said Hong Kong can't relax residential property cooling measures, as home prices are still far beyond the reach of the common man.

Though Hong Kong's economy shrank for five consecutive quarters, home prices slid less than 3 percent, and were still double than what they were in 2010 when the government introduced stamp duty, Chan wrote in a blog post yesterday. He said the government will continue to monitor home prices, transactions, supply and the macro-economy, but there was no timetable to ease the cooling measures.

Meanwhile, Secretary for Financial Services Christopher Hui Ching-yu said Hong Kong's integration into the mainland and its international advantage are "two sides of the same coin" in regard to the city's development, and deeper financial links with the mainland will help the city attract more international funds.

(The Standard)

Hongkongers expected to spend US$2.19 billion on new homes this year, the lowest since 2015, agent said

The agent expects the number of new homes sold in the whole of 2020 to be down 27 per cent to 15,000, the lowest for seven years

As developers offer their new projects at more attractive prices, home seekers have recently been flocking to the primary market

Hongkongers are expected to spend HK$170 billion (US$2.19 billion) on new homes this year, the lowest since 2015, according to property agent.

As a fourth wave of coronavirus cases adds to the woes of a property sector already hit hard by economic recession and rising unemployment, analysts expect a bumpy ride next year too.

“The sharp fall in sales is largely due to the poor market sentiment in the first half. Developers faced immense challenges to catch up the sales in the second half,” agent said.

Developers pulled in about HK$145 billion from January to November, the agent said.

In 2015, the total transaction value amounted to HK$167.14 billion.

With just a month left to the end of the year, the agent expects the number of new home sales for the whole of 2020 to be down 27 per cent to 15,000, the lowest for seven years. In 2013, there were 9,753 transactions for new homes.

As developers offer their new projects at more attractive prices, home seekers have recently been flocking to the primary market.

Another agency said the strong sales of new project launches are partly down to the slightly poorer performance of the secondary market.

Prices of lived-in flats dropped 0.6 per cent in October, according to figures released by the Rating and Valuation Department on Thursday.

“Flat viewing appointments declined by 4 per cent at the weekend [from a week ago] as owners were reluctant to offer discounts to compete with developers,” agent said.

Agent said that owners also preferred not to open their flats for public viewing amid the fourth wave of Covid-19 currently plaguing the city.

Hong Kong recorded 115 new coronavirus cases on Sunday, the highest daily increase since the latest wave of infections started more than a week ago, and the first time the city has seen a three-figure rise since the 125 cases on August 1.

Sales of new homes started to make a comeback when New World Development launched the first phase of Pavilia Farm in Tai Wai last month, pricing the units at 16 per cent lower than a nearby new project, The Garrison.

Fuelled by the low starting prices of Pavilia Farm and other projects, sales of new homes surged 110 per cent to 1,833 transactions worth HK$19.6 billion between November 1 and 25, according to property agency. Pavilia Farm accounted for 40 per cent of those.

The Pavilia Farm attracted as many as 22,000 registered buyers, allowing the builder to increase prices by about 14 per cent in the subsequent batch of units to go on sale.

By Thursday, New World Development had sold more than 2,100 units for more than HK$23 billion in phases one and two since the development’s launch last month, according to market sources.

Minmetals Land, the property subsidiary of one of China’s largest metallurgical producers, sold nearly all of the first 279 units on offer at its Montego Bay project in Yau Tong on Saturday, with as many as 17 buyers bidding for every available flat, agents said.

At Nam Cheong, Sun Hung Kai Properties (SHKP) found buyers for 52 of the 78 leftover apartments at its Cullinan West III project, agents said. On Friday, Henderson Land Development sold 65 of the first batch of 68 flats at its Arbour project in Tsim Sha Tsui.

“New home sales in November will be reflected in Land Registry data next month and in January 2021. Buying sentiment will improve in the coming months,” agent said.

(South China Morning Post)


工商舖價大調整 再跌5%見底

「理想」鄧健明:民生區舖 疫下投資價值高




通關未定 明年上半年有隱憂


工商舖減辣 料可帶動成交


最近理想集團積極推售物業,並趁市況轉好而沽貨套現,包括以1.4億元,沽出粉嶺聯發街1號的重建地皮,地盤面積約6,780平方呎,申請興建住宅或商業等項目 (需申請補地價),由佳明集團 (01271) 承接。此外,亦以約3.1億元,把荃灣理想集團廣場全幢工廈沽出,物業樓高13層,地盤面積7,767平方呎,由上市公司承接。