Midland real estate: Hong Kong's top ten residential estates saw 11 transactions over the weekend, representing a 57.1% increase from the previous week and reaching a new five-week high.

Midland Realty recorded 11 transactions in the top 10 housing estates over the weekend, with a 57.1% increase from the previous week, reaching a 5-week high. Transactions were evenly distributed among 8 housing estates, with transactions in every district. The President of the residential department of Midland Realty, Chen Yongjie, stated that the clear weather over the weekend was favorable for viewing properties. With the increase in positive market news recently, buyers are looking forward to the Federal Reserve cutting interest rates this month, as well as the positive impact expected from the policy address next week on the Hong Kong property market. Some potential buyers have accelerated their entry into the market, boosting trading activity. According to statistics from the agency company, Midland Property, 11 transactions were recorded in the top 10 housing estates over the weekend, although there was an 8.3% decrease from the previous week, it has been maintained at a double-digit level for two consecutive weeks. If the top 15 housing estates are counted, there were 13 transactions recorded, with no change from the previous week. The Executive Director of the residential department of Midland Property, Bu Shaoming, stated that two key factors will impact the property market this week: the release of the Policy Address, which will focus on housing policies, and the imminent decision on the US interest rate, with market expectations leaning towards a high chance of a rate cut. Before these two factors become clear, some potential buyers are actively looking at properties and pre-selecting potential options, waiting for the policies to be clarified before making a move into the market. Bu emphasized optimism for the future market, expecting an increase in trading pace after the announcement of the interest rate decision next week. According to statistics on the distribution of weekend transaction volumes in the top 10 housing estates by Midland Property, 3 estates in Hong Kong Island including Taikoo Shing, Kornhill Gardens, and South Horizons recorded a total of 1 transaction over the weekend, an increase of 1 from the previous week; 4 estates in Kowloon including Laguna City, Whampoa Garden, New Town Plaza, and Mei Foo Sun Chuen, recorded a total of 6 transactions, a decrease of 25% from the previous week; and 4 estates in the New Territories including Providence Bay, City One Shatin, and Kadoorie Hill recorded a total of 4 transactions with no change from the previous week.