"HK Property" Weekend Property Market: The Top Ten Housing Estates Generally Show an Upward Trend in Transactions

The newly launched project that was previously delayed has resumed its sales deployment. DOUBLE COAST III in Kai Tak opened its pricing last Saturday (6th), initially offering 105 units, with a discounted price starting from HKD 4.191 million and a discounted price per square foot starting from HKD 16,660. Additionally, projects such as The Royal Peninsula in North Point, Kai Tak Waterfront, and The Peak in Kowloon recorded transactions over the past weekend. As for the secondary housing market, the top ten housing estates generally showed an upward trend in transactions, with the four major agencies reporting between 8 to 12 transactions.

Developed in collaboration by Wheelock Properties, Henderson Land (00012.HK), China Overseas (00688.HK), and New World Development (00017.HK), the new project DOUBLE COAST III in Kai Tak announced its price list No. 1 last Saturday, offering a total of 105 units with a discounted price starting from HKD 4.191 million. The project is expected to announce its sales arrangements as early as this week.

The units in price list No. 1 of DOUBLE COAST III are located in Block 1A and Block 1B, covering 8 open-plan units, 42 one-bedroom (open kitchen) units, 19 two-bedroom (open kitchen) units, 12 two-bedroom + storage room (open kitchen) units, 2 three-bedroom (open kitchen) units, and 22 three-bedroom one-suite + storage room (kitchenette) units. The practical area of the units in price list No. 1 ranges from 249 to 696 square feet. The discounted price starts from HKD 4.191 million, with a discounted price per square foot starting from HKD 16,660.

The entry-level unit is Unit G on the 8th floor of Block 1B, an open-plan layout with a practical area of 249 square feet, priced at HKD 4.762 million, with a price per square foot of HKD 19,124. After deducting various discounts listed in the price list, the discounted price is HKD 4.191 million, with a discounted price per square foot of HKD 16,831.

Additionally, the 12A phase of Sunrise Kowloon Bay, also under Wheelock Properties, officially received approval for the transfer agreement yesterday, and a handover letter will be sent to customers shortly to officially commence the handover process.

Kerry Properties (00683.HK) sold a subdivided flat on the 3rd floor of Block 6 in The Peak, Kowloon, by tender yesterday (7th), with a practical area of 4,332 square feet, consisting of four bedrooms with four en-suites and two maid's rooms, at a transaction price of HKD 225 million, with a practical area price of approximately HKD 51,939. The transaction price includes two residential parking spaces.

New World Development sold another 4 units in The Royal Peninsula in North Point over the past weekend, including Unit B6 on the 30th floor, with a practical area of 361 square feet, designed as a one-bedroom unit, priced at HKD 7.838 million, with a price per square foot of HKD 21,712. The project has sold a total of 12 units in the past week, realizing HKD 93.792 million.

K Wah (00173.HK), Wheelock Properties, and China Overseas Development's Kai Tak Waterfront recorded 6 transactions over the past weekend, realizing over HKD 56 million. Among them, Unit A on the 8th floor of Block 2A, with a practical area of 771 square feet, consisting of three bedrooms with one en-suite and a storage room, was sold for HKD 16.658 million, with a price per square foot of HKD 21,606 As for the second-hand market, Centaline Property recorded 12 transactions in the top ten housing estates over the past weekend, returning to double digits and reaching a new high in nearly three weeks, with four estates remaining with zero transactions, indicating stable and upward trading.

Centaline Property's Vice Chairman and President of Residential Department, Chen Yongjie, stated that the U.S. Federal Reserve will hold a meeting next week, and the city anticipates more than a 50% chance of another rate cut. Citizens are optimistic about the future of the property market, and buyers looking to upgrade or enter the market are returning to seek opportunities, leading to a resumption of second-hand transactions, which are expected to gradually accelerate.

According to statistics from Midland Realty, the top ten housing estates recorded a total of 12 transactions over the first weekend of December (December 6 to 7), an increase of about 9.1% compared to 11 transactions the previous weekend, marking a three-week high. If considering the top fifteen housing estates, there were a total of 13 transactions last weekend, a weekly decrease of about 7.1%.

Midland Realty's Senior Director, Bu Shaoming, stated that although December is traditionally one of the off-peak seasons for the property market, and the newly launched projects over the past weekend lacked focus, there is still no shortage of purchasing power in the second-hand market, with buyers actively seeking good deals. Even as some areas are experiencing a "supply shortage," some second-hand buyers remain actively entering the market, demonstrating the overall heat of the property market. Additionally, with the delayed launch of new projects set to "resume," it is expected to drive first-hand transaction performance in various districts, thereby stimulating the second-hand atmosphere; coupled with market expectations of another rate cut after the U.S. meeting in December, Hong Kong banks are likely to follow suit, which is expected to inject momentum into the property market and further boost both first and second-hand transactions, with property prices likely to maintain a stable upward trend.

According to statistics from Hong Kong Property, the top ten housing estates recorded a total of 8 transactions over the first weekend of December, unchanged from the previous weekend's 8 transactions, maintaining single-digit figures for six consecutive weeks.

Statistics from Lijia Pavilion Real Estate's network data show that the top ten housing estates recorded 11 second-hand transactions over the past weekend, an increase of 10% compared to 10 transactions the previous weekend