Home sales dropped 44% over the weekend

Only 19 were sold from top tier estates.

According to Maybank Kim Eng, separately, a 44% WoW drop in secondary transactions were seen and only 19 sales were recorded from the top 10 secondary residential estates.

Smaller-valued units from City One Shatin and Kingswood Villas recorded 5 and 4 sales, respectively.

Here's more from Maybank Kim Eng:

Only 55 primary transactions were recorded over the last month since the introduction of new ordinance on April 29th, versus monthly sales of approx. 1,000, according to local press.

Property agencies focused on the sales of overseas projects, as well as rental transaction of primary and secondary markets. For the launch pipeline, we expect that developers will still focus on re-launching remaining units of existing projects.