Eight transactions recorded over the weekend in the top ten residential estates in the Central Plains, with a significant increase of 60%.

The top ten housing estates recorded eight transactions over the weekend, a significant increase of 60% compared to last weekend, reaching a new high in nearly seven weeks, with six estates still having no transactions. Charles Chan, Vice Chairman of Centaline Property and President of the Residential Division, stated that several new first-hand properties had been launched recently and recorded favorable sales, which has visibly improved the atmosphere of secondary market transactions, injecting a dose of optimism into the property market. The outlook suggests that first-hand new properties will continue to be a focal point, while secondary market transactions are expected to regain momentum, with an overall significant increase in transaction volume anticipated for the month. According to statistics from Midland Realty, the top ten second-hand indicator estates recorded approximately eight transactions over the weekend, a week-on-week increase of 60%, marking a seven-week high, yet it has remained in the single-digit range for 11 consecutive weekends; when calculated among the top fifteen estates, there were around eight transactions, down about 11% from nine transactions last weekend. Senior Director of Midland Realty, Biao Shi Ming, indicated that multiple new projects have recently been introduced, capturing market attention in the short term. A new project in North Fanling, which debuted its first round of sales on Sunday, has attracted some secondary market buyers; meanwhile, the newly launched project in Southwest Kowloon has made a strong impression with competitive pricing and is releasing additional units, significantly boosting the overall atmosphere of the property market. Currently, the market exhibits a mix of cautious observation and willingness to enter; some buyers are being more prudent, but there are also buyers who opt to enter the market early to seize opportunities. Biao Shi Ming added that as desirable properties have been gradually absorbed and some homeowners are optimistic about future market trends, the bargaining space has narrowed, and there have even been instances of rebuffed offers, leading to a shortage of desirable listings across various districts. With a reduction in quality listings and the dual impact of new properties entering the market and competing for buyers, secondary market transactions have remained relatively stable, although time will still be needed to gain momentum for an upward breakthrough. Looking ahead to August, it is anticipated that the market will continue to focus on first-hand properties, further stimulating market entry sentiment, and the overall positive trend in both the primary and secondary property markets is expected to remain unchanged. According to district statistics, three indicator estates in Hong Kong Island, including Taikoo Shing, Kornhill Garden, and Bel-Air, recorded one transaction over the weekend, remaining steady week-on-week. In Kowloon, four indicator estatesincluding Laguna City, Whampoa Garden, Grand Waterfront, and Mei Foo Sun Chuensimilarly recorded three transactions over the weekend, showing no change from the previous week. In the New Territories, three indicator estates, including Yung Shue Wan, City One Shatin, and Kwan Mun Hau, recorded approximately four transactions over the weekend, a threefold increase compared to last week.