Centaline Property: Accelerate the sale of new developments to seize the market focus, second-hand transactions in 35 housing estates dropped slightly by 4% on a weekly basis.

Benefiting from the interest rate cut, the property market in Hong Kong continues to improve, with developers actively launching new projects to capture market attention, while second-hand transactions slightly decreased week-on-week. According to data from Midland Realty, there were a total of 65 transactions in 35 major housing estates in Hong Kong in the past week (November 3 to November 9), a slight decrease of about 4.4% compared to the previous week. However, the number of transactions is still above the average level for this year. Analyst at Midland Property, Ken Sing-yin, pointed out that if the 35 housing estates are divided into three regions, there were specific developments in each region last week. Among them, 17 housing estates in the New Territories recorded 24 transactions last week, a decrease of about 22.6% week-on-week. The 8 housing estates on Hong Kong Island recorded 7 transactions last week, also a decrease of about 22.2% week-on-week. Despite an increase of 2 transactions in Nam Fung Sun Chuen and 1 transaction in Kam Fung Court, transactions in Hong Kong Island still declined last week. In contrast, the 10 housing estates in Kowloon recorded 34 transactions last week, an increase of approximately 21.4% in the number of transactions compared to the previous week. Among them, Whampoa Garden and Mei Foo Sun Chuen recorded an increase of 5 transactions and 4 transactions respectively, with Whampoa Garden recording an additional transaction. Even with a decrease of 1 transaction each in The Harbourside, Tak Bo Garden, City One Shatin, and East Point City, the transactions in Kowloon increased last week.