The festive atmosphere drags down second-hand transactions in "Hong Kong Property," with only a handful of transactions recorded in the top ten housing estates last weekend

As the Christmas and New Year traditional programs approach the end of the year, citizens are taking advantage of the long holiday to travel, and with last Sunday (22nd) being the Winter Solstice, the festive atmosphere has led to a decrease in second-hand transactions. According to statistics from Midland Realty, the top ten benchmark second-hand housing estates recorded only about 8 transactions over the past weekend, a week-on-week drop of approximately 20%, marking a new low in nearly 18 weeks. If considering the 15 major housing estates, about 10 transactions were recorded over the past weekend, a week-on-week decrease of about 9.1%, also falling to a new low in 18 weeks.

Centaline Property recorded 7 transactions in the top ten housing estates over the past weekend, a week-on-week drop of 22.2%, marking two consecutive weeks of single-digit transactions, with the number of estates with zero transactions increasing to 4 this week. Centaline Property's Asia Pacific Vice Chairman and Residential Division President, Chen Yongjie, pointed out that many buyers have begun to hold off on entering the market in the second half of the month, coupled with developers actively reducing inventory, which has diluted second-hand purchasing power. Ricacorp Properties reported 6 transactions in the top ten housing estates this weekend, a week-on-week decline of 33%.

In terms of new developments, approximately 77 transactions were recorded over the past weekend. Among them, the DOUBLE COAST series in Kowloon East, led by Wheelock Properties, has sold a total of 304 units since its launch, cashing out over HKD 2.26 billion. Wheelock Properties Vice Chairman and Executive Director, Huang Guangyao, revealed that the Central Kowloon Route (Yau Ma Tei section) has officially opened, significantly shortening the travel time from East Kowloon to West Kowloon. Additionally, a new bus station in front of DOUBLE COAST has been put into service, and the bidding for the Kai Tak Smart Green Transport System has accelerated, driving the project to sell 51 units in the past week