Hong Kong's secondary property market continues to disappoint analysts

5% drop in flat-viewing isn't good news.

According to Barclays, with the market’s attention firmly on the primary launches, secondary activity remained lacklustre. 

Centaline reported a 5% w/w drop in the weekend flat-viewing bookings and only nine transactions were recorded at the 10 major housing estates for the past weekend.

Here's more from Barclays:

For the entire week, Midland’s 35 housing estates secondary index increased marginally from 46 to 49 transactions but remained well below the weekly average for 2012 of 143.

With developers speeding up the primary launches and offering discounts to attract potential homebuyers, we believe the secondary market will stay quiet.