Immigrating to Hong Kong, settling in Hong Kong has brought housing into focus. According to the latest data from Hong Kong real estate agents, the overall transactions in the primary and secondary markets remained relatively stable over the past Saturday and Sunday.
During the weekend, the transaction trends of major blue-chip residential estates showed divergence. The secondary market transactions recorded by major agents ranged from 7 to 13 units. Among them, Centaline recorded a decrease of two transactions week-on-week, while Midland recorded an increase of two transactions, with a total of 13 transactions, marking a continuous period of more than 7 weeks with over 10 transactions, the longest duration since February of last year.
Transactions in the New Territories remain robust, primarily concentrated in the Kingswood Villas, with agents recording between 3 and 6 transactions. The Kowloon area, however, is relatively quiet, with some agents recording only 1 transaction. Some agents indicated that recent sales of certain new developments have been strong, stimulating market purchasing power, with many buyers seeking affordable properties, which is beneficial for the overall market atmosphere. However, most affordable secondary listings have been absorbed, and new developments have also attracted some buyers, suggesting that in the short term, the focus will be on primary sales. It is expected that secondary transactions will only see further increases after the new development frenzy subsides.
In the primary market, several new developments continue to sell units, with sales remaining strong. During the weekend, approximately 160 transactions occurred, similar to the previous weekend.