Midland Realty: 45 transactions were recorded in 35 estates last week, a decrease of 33% compared to the previous week.

Multiple new developments have been launched in Hong Kong, and the first-hand property market remains hot, with the sales volume of new developments reaching over 400 units for five consecutive weeks, attracting market attention and some purchasing power. On the other hand, the market anticipates positive news for the Hong Kong property market in the policy address, coupled with a high chance of interest rate cuts in the United States, leading to optimism among some owners for the future market. As a result, bargaining space has decreased, putting pressure on second-hand transactions. According to data from Midland Realty, a total of 45 transactions were recorded in 35 large housing estates in Hong Kong in the past week (September 1 to September 7), a decrease of about 32.8% compared to the previous week's 67 transactions. Midland Property analyst Samson Sham pointed out that if the 35 housing estates are divided into three regions, the New Territories saw the largest decrease in transactions last week, with 15 transactions recorded in 17 estates, a decrease of about 53.1% compared to the previous week. Among them, Parc Versailles saw a decrease of 5 transactions, while Laguna Verde and Regalia Bay each saw a decrease of 3 and 2 transactions respectively. On the other hand, only City One Shatin saw an increase of 3 transactions, which could not offset the significant decrease in transactions in the New Territories last week. As for Hong Kong Island, 11 transactions were recorded in 8 estates last week, a decrease of about 31.3% compared to the previous week. Among them, Tai Koo Shing saw a decrease of 3 transactions, while Resiglow Garden and South Horizons each saw a decrease of 2 and 1 transactions respectively. With an increase of 1 transaction in Lai King Wan, the downward trend in transactions in Hong Kong Island continued last week. In Kowloon, 19 transactions were recorded in 10 estates last week, with the number of transactions unchanged compared to the previous week. New Town Plaza saw a decrease of 3 transactions, while Harbour Place and Victoria Harbour saw a decrease of 1 transaction each. At the same time, Whampoa Garden saw an increase of 4 transactions, while The Sherwood, Regentville, and Hoi King Garden each saw an increase of 1 transaction. Overall, transaction numbers in Kowloon remained stable last week amidst the ups and downs in individual estates.