The escalating Wuhan coronavirus epidemic continued to weigh on the sluggish local property market, with secondary transactions for major projects remaining in single digits last weekend.

Centaline Property Agency recorded only three secondary deals for the 10 major housing estates it tracks, the same number as the previous weekend. Visitings have plunged by 70-80 percent last weekend amid the outbreak, according to Louis Chan Wing-kit, chief executive of Asia Pacific at Centaline Property Agency.

Midland Realty saw single-digit deals for a third weekend, with four units sold in the 10 major projects last weekend.

In Tin Shui Wai, a 551-square-foot flat at Kingswood Villas changed hands for HK$5.18 million, or HK$9,401 per sq ft, after the vendor cut 11 percent from the initial asking price. South Horizons in the Southern District and City One in Sha Tin saw one transaction each.

In Tuen Mun, a 536-square-feet flat at Ori changed hands for HK$6.18 million, or HK$11,530 per sq ft, after HK$1.32 million was slashed from the original asking price. The vendor would incur a loss of about HK$100,000 after paying stamp duties and commission fees.

In Yuen Long, In 498-sq-ft apartment at the Grand Yoho a sold for HK$7.68 million, or HK$15,422 per sq ft, compared with an initial asking price of HK$8.08 million. The seller bought the unit at HK$69.5 million in 2016.

Elsewhere, a three-bedroom unit at Lake Silver in Ma On Shan, where three confirmed patients of the Wuhan coronavirus have lived, changed hands for HK$14.8 million, or HK$15,102 per sq ft, around 10 percent lower than market valuation. A two-bedroom flat at Sunshine City in the same district sold for HK$5.58 million, or HK$16,034 per sq ft, after HK$620,000 was cut from the initial asking price.

The former owner of an 826-sq-ft apartment at The Pavilia Bay, Tsuen Wan, sold the unit at HK$17.3 million, or HK$20,944 per sq ft, 13.5 percent higher than the initial purchase price in 2017.

Landlords were also cutting rents to woo tenants with a three-bedroom flat at The Belcher's in Kennedy Town rented for HK$51,000 per month, or HK$46 per sq ft, after HK$5,000 was slashed from the original asking price.

However, in the primary market, a 1,425-sq-ft special unit at Poggibonsi in Discovery Bay sold for HK$36 million, or HK$25,263 per sq ft, the highest price for the project.

A flat at Ori changed hands for HK$6.18 million, after HK$1.32 million was slashed from the asking price. SING TAO

Secondary deals remain subdued