10 housing estates' weekend transactions hit an eight-week high

Centaline Property recorded 18 transactions in 10 housing estates over the weekend, marking a week-on-week increase of 63.6%, reaching an 8-week high.

Centaline Property’s Asia-Pacific Vice Chairman and Residential Division President, Chan Wing Kit, stated that the market sentiment remains strong, with nearly 400 first-hand transactions over the weekend. This month, first-hand transactions have already exceeded 2,000. The sales performance of new developments is ideal, and some buyers who were previously sidelined have returned to the secondary market. Property prices have shown a significant upward trend in the first quarter, and many buyers feel that waiting to purchase will be more expensive, prompting them to accelerate their entry into the market. Both price and volume have risen, showing a robust market for both first and second-hand properties, and it is expected that this strong market can continue into the second quarter.

Statistics from Hong Kong Property’s subsidiary indicate that the top 10 secondary residential estates recorded about 10 transactions over the weekend, an increase of 2 transactions or about 25% week-on-week, returning to double-digit levels and reaching an 8-week high, with trading performance steadily improving.

Wang Pin Di, Director of the Research Department at Hong Kong Property, noted that the market for new developments over the past weekend was extremely vibrant, with the first round of sales for the First Exchange on Saturday completely selling out 123 units. The new round of sales for DEEP WATER SOUTH also saw ideal results, reflecting strong demand for property in the market. Although the launch of new developments absorbs some market purchasing power, it simultaneously boosts the overall market atmosphere, with some first-hand buyers actively seeking preferred units in the secondary market, driving up viewing activities and transactions in secondary housing estates.