27 May 2024

According to The Standard, Hong Kong’s 10 major housing estates saw numbers of secondary deals rebound to double digits over the weekend from a week ago, thanks to price cuts by sellers. Centaline Property reported 10 deals in 10 blue-chip estates over the weekend, up 1.5 times from a week earlier. Homeowners are giving in and cutting their prices amid the recent quiet secondary market to attract buyers, which is driving a rebound in transactions, according to Centaline, adding that property prices will continue to consolidate. This came as indexes compiled by Centaline showed that secondary home prices fell to a nine-week low last week. The Centa-City Leading Index, which reflects the trend of the city’s used home prices, dropped 1.43% weekly to 144.

CROSBY Research – Crosby Bi-noculars (Bi-weekly Issue 59)