Hong Kong's weekend secondary transactions rebounded to 26

Check out the winning developers.

According to Maybank KimEng, only 2 primary residential property units were being transacted over the weekend, a further drop from 5 over the previous week as only two smallmedium-scale projects, Dunbar Place (Swire Properties (1972) in Homantin) and Green Code (HK Ferry (50)’s 728-unit project in Fanling) were available for sale 2 weeks after the new First-Hand Sales Ordinance has become effective.

Maybank also noted that secondary transactions from top 10 residential estates rebounded 2.3x from a low base of 8 transactions to 26 last weekend, supported from smaller-value units mainly in New Territories. Notable secondary transactions were recorded in Kingswood Villas (10 units) and City One Shatin (9 units).

Here's more:

The unit transaction also set a new record since end-January, when the figures were hovering between 1 and 20. On primary property launches, The Avery (Kowloon City, by Sino Land (83)) with 21 remaining units for sale out of the total 78 will become the next available-for-sale project which could be marketed on Wednesday at the soonest, according to Ming Pao.

Join Hong Kong Business community

Implication: The mixed performance from primary and secondary market is inline with market’s expectations. The low base effect and cumulative 4.2% drop (to 118.51 in previous week) in Centaline Centa City Leading Index since midMarch contributed to the rebound in secondary sales. We expect that more primary projects will be available for sale towards the end of this quarter with developers’ compliant to the new Ordinance.

Action: Only accumulate quality developers upon share price weakness. We like Henderson Land (12) on its small-unit and commercial property pipeline, farmland conversion and donation in progress, and Chairman Lee’s stake hike. The counter is trading at 34% discount to our RNAV of HKD86.73 per share.  

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Hong Kong and Singapore investors divided on risk exposure over next 12 months
Inflation is expected to remain subdued in the region, with only 25% of Asia respondents predicting a rise, the lowest across all surveyed geographies.
Hong Kong ranked as Asia’s most rent-burdened housing market
Whilst the ratio of apartment prices to earnings dropped from 26.5 in 2022 to 23.4, it remains second-worst among all cities surveyed.
Residential Property
Hong Kong says Chong Sing Heritage Trust an unauthorized bank
The bank does not have authorization to carry a banking business in Hong Kong.