In "Hong Kong Property," the luxury residential project on Kam Sheung Road, Park Lane, saw a cumulative sale of 7 units exceeding HKD 37.2 million during the long holiday. The atmosphere for primary sales is relatively weak, but secondary transactions have surged

During the past weekend and the 4-day holiday, there were no new properties launched in the market, and the atmosphere in the primary market was relatively subdued. Among them, the project on Kam Sheung Road, Park Lane, sold 7 units during the holiday, cashing out over HKD 37.2 million. The secondary market showed some recovery, with the highest weekend transaction reaching 27 deals, setting multiple new highs for weekends.

Sun Hung Kai Properties (00083.HK) collaborated with China Overseas Land & Investment (00688.HK) and K Wah International (00173.HK) on the completed project, the Park Lane series on Kam Sheung Road, which sold a total of 7 units during the holiday, all of which were one-bedroom units, with an average selling price of about HKD 5.31 million, cashing out over HKD 37.2 million. Among them, the highest transaction price per square foot was for unit B7 on the 12th floor of Block III of Park Lane, with a usable area of 350 square feet, a one-bedroom layout, sold for HKD 5.4754 million, at a price of HKD 15,644 per square foot.

K. Wah International's KOKO HILLS series at Blue Sky Villa recorded two new transactions yesterday (28th), cashing out approximately HKD 23.141 million, with price per square foot ranging from HKD 19,261 to HKD 20,756. On the same day, the SEASONS series located in Sunrise City recorded 4 transactions, with the developer stating that the entire SEASONS series has sold 814 units this year to date, cashing out nearly HKD 5.19 billion, and has cumulatively sold 1,773 units since launch, cashing out over HKD 11.15 billion.

During the Christmas holiday, Cheung Kong Property (01113.HK) sold unit H56 at Yuen Long Hung Shui Kiu #LYOS last Friday (26th), with a usable area of 778 square feet, featuring a duplex with a garden and rooftop, sold for HKD 12.681 million, at a price of HKD 16,299 per square foot.

Centaline Property's top ten housing estates recorded 13 transactions over the past weekend, a week-on-week surge of 85.7%, setting a new high for 6 weekends. During the 4-day Christmas holiday, a total of 21 transactions were recorded, with Taikoo Shing performing the best, recording 7 transactions over the 4 days.

Centaline Property's Asia Pacific Vice Chairman and Residential Division President, Chan Wing Kit, stated that the trading atmosphere during the Christmas holiday was generally subdued, but the recent market sentiment is positive, with many buyers rushing to enter the market before the year-end. Additionally, with no new primary properties competing for buyers this weekend, the transaction volume in some estates surged, and the secondary market performed well. It is believed that transaction volumes will further increase after the holiday.

According to statistics from Midland Realty, the top ten housing estates recorded about 27 transactions during the 4-day Christmas long weekend. If considering just the past Saturday and Sunday, approximately 15 transactions were recorded, an increase of about 87.5% compared to the 8 transactions from the previous weekend, setting a new high for 6 weekends. If considering the top fifteen housing estates, a total of about 31 transactions were recorded over the 4 days, while approximately 17 transactions were recorded over the Saturday and Sunday, a week-on-week increase of about 70%.

Midland Realty Senior Director, Bu Shaoming, expects that multiple new properties will be launched in the short term, and a large amount of pent-up purchasing power will re-emerge, leading to an increase in primary market transactions, which will also benefit the secondary market, supporting continuous price increases.

According to statistics from Hong Kong Property, the top ten housing estates recorded about 8 transactions over the past weekend, a week-on-week increase of about 60%, setting 3 new weekend highs. As for the 4-day Christmas long weekend, approximately 18 transactions were recorded According to the comprehensive data from Li Ka Shing Real Estate's branch network, the top ten housing estates recorded 13 second-hand transactions over the past weekend, a significant increase of nearly 1.2 times compared to the 6 transactions from the previous weekend, marking a return to double-digit levels after two weeks and reaching a new six-week high; as for the four-day Christmas holiday, a total of 24 transactions were recorded, which is 9 transactions or 60% more than the 15 transactions during the four-day Christmas holiday in 2023, although there was no consecutive holiday last Christmas