U.S. Federal Reserve: Market anticipates positive impact of budget, transactions in 35 residential areas in Hong Kong reach over three-month high last week

The market is anticipating that the upcoming Hong Kong budget will include measures beneficial to the property market. Some buyers are rushing to enter the market, resulting in a heated new development market. Just this past weekend, a new project in Yuen Long was sold out on the same day, and the second-hand market is also seeing continued warming. According to data from Midland Realty, a total of 69 transactions were recorded in 35 major residential areas across Hong Kong in the past week (from February 17th to February 23rd), an increase of approximately 19% from the previous week (February 10th to February 16th), marking the third consecutive week of increase and reaching a new high in 15 weeks (over three months). Midland Realty's chief analyst, Liu Jiahui, pointed out that among the 35 residential areas, the largest increase in transactions occurred in the New Territories, with 28 transactions recorded in 17 residential areas last week, an increase of approximately 47.4% from the previous week. Among them, Discovery Bay saw an increase of 3 transactions, while Tsuen Wan Centre and Hoi Fu Court each saw an increase of 2 transactions, and Lai Sing Garden, Green Yang New Village, Warhol Hill, Newport City, New Yuen Long Centre, and Riverbank Villa each saw an increase of 1 transaction. Even with decreases in Tseung Kwan O New City, Wing Tai Peninsula, Sha Tin City One, and Tuen Mun Centre, the trading in the New Territories increased last week. In Kowloon, 28 transactions were recorded in 10 residential areas last week, an increase of approximately 33.3% from the previous week. Among them, Mei Foo Sun Chuen saw an increase of 4 transactions, while Whampoa Garden and Hoi Yat Estate each saw an increase of 3 transactions, and Bayshore, Tak Fook Garden, and New Town Centre each saw an increase of 1 transaction. Despite decreases in Lai Hong City, Windsor Garden, and East Ocean Harbour, the trading in Kowloon increased last week. On the contrary, 13 transactions were recorded in 8 residential areas in Hong Kong Island last week, a decrease of approximately 27.8% from the previous week. Among them, Marina Cove and Le Plaisir du Lac saw a decrease of 4 transactions each, while Hong Kong Parkview saw a decrease of 1 transaction. Even with an increase of 3 transactions in Cityplaza, and 1 transaction in Apricot Village, the trading in Hong Kong Island dropped last week.