Hong Kong Property: Holiday factors delay market demand, Weekend top ten indicators show a temporary record of 353 appointments to view properties.

According to statistics from the Hong Kong real estate branch, the number of appointments to view the top ten housing estates in Hong Kong this weekend (December 27-28) was approximately 353 groups, a decrease of about 10.9% from the approximately 396 groups recorded last weekend. This marks the fifth consecutive week of decline, hitting a 17-week low. If we include the extended four-day weekend starting from Christmas Day (December 25-28), the total number of appointments to view houses was approximately 562 groups. Wang Pinde, Director of the Hong Kong Real Estate Research Department, stated that this weekend coincided with the Christmas holiday, creating a festive atmosphere. Many residents took advantage of the long holiday to travel or celebrate, which impacted the atmosphere of the Hong Kong secondary market and put pressure on the number of appointments to view houses. In recent weeks, the overall market sentiment has improved due to the launch of new developments and interest rate cuts. However, with the holiday season and the approaching New Year, there is an increase in wait-and-see sentiment in the secondary market. Looking ahead to the end of the Christmas and New Year holidays, as the holiday factors gradually fade, the demand that was temporarily held back will return to the market, and the viewing activity of secondary housing estates is expected to stabilize, with transaction momentum returning to normal. According to statistics from the Hong Kong real estate branch, the number of appointments to view the top ten housing estates this weekend decreased by about 10.9% on a weekly basis. By region, appointments to view houses in Hong Kong Island recorded 19 groups, a decrease of about 20.8% from the previous week; Kowloon recorded 184 groups, a decrease of about 10.2%; and the New Territories recorded 150 groups, a decrease of about 10.2% from the previous week.