10 residential estates saw weekend transactions increase to 11 deals

Centaline Property recorded 11 transactions in the top 10 residential estates over the weekend, an increase of 5 transactions or 83.3% compared to the previous week. Only Mei Foo Sun Chuen, Whampoa Garden, and Jiahu Mountain Villa did not record any transactions.

Chen Yongjie, Vice Chairman of Centaline Property Asia-Pacific and President of Residential Department, stated that the property market remains vibrant, especially in new developments. Over the weekend, two new projects, Yu Yi and Yun Xiang, launched their first sales phases simultaneously, driving a sharp increase in primary market transactions. Additionally, remaining stock units also sold well, resulting in over 380 transactions in the primary market over the weekend. The strong sales of new projects further boosted overall market sentiment, encouraging secondary market buyers to enter the market more quickly. Some buyers who missed out on new projects also quickly re-entered, leading to a significant increase in secondary transactions.

According to statistics from Hong Kong Property under its branches, about 5 secondary transactions were recorded in the top 10 secondary estates over the weekend, a weekly increase of 2 transactions or 66.7%.

Wang Pindi, Director of Research at Hong Kong Property, said that over the past Saturday, two new projects launched their first sales phases simultaneously, with strong sales performance. This further released market purchasing power, boosted market sentiment, and stimulated secondary buyers to be more active in searching for properties, driving secondary market activity. Despite geopolitical instability, Hong Kong’s role as an international financial center and safe haven for capital remains solid. The appeal of property as a long-term investment continues to grow, and both homebuyers and investors are increasingly eager to enter the market.