Secondary sales shoot up

Business | Kevin Xu 21 Oct 2019

Secondary home sales over the weekend hit a half-year high after Chief Executive Carrie Lam Cheng Yuet-ngor announced new steps to relax mortgage rules in her policy address last week.

Centaline Property Agency reported 20 secondary transactions in 10 major housing estates over the weekend, up by 233 percent week-on-week. However, Centaline Property Asia-Pacific residential chief executive Louis Chan Wing-kit does not expect prices to rise significantly, as the Sino-US trade war and social unrest continues to dampen sentiment.

In the primary market, China Evergrande (3333) released 174 flats at Emerald Bay in Tuen Mun in its second price list. The units range in size from 223 sq ft to 383 sq ft and cost between HK$3.62 million and HK$5.99 million after discounts. CK Asset (1113) meanwhile will launch 88 units at Seaside Sonata in Sham Shui Po for sale before Saturday.

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