Secondary home sales at 10 major housing estates declined over the weekend, amid ample primary market supplies and imminent interest rate hikes, according to Centaline Property Agency.
Only 11 deals were recorded, which was four less than a week ago, the agency said. The number slightly rose to 13 during the three-day holiday if the Monday figure is included.
Louis Chan Wing-kit, Asia-Pacific vice-chairman of the residential division, said the ample supply of homes in new projects, anticipated interest rate hikes, and a decline in home viewing appointments on Mother's Day led to the fall in the number of deals.
It may take some time for buyers to digest the news of US interest rate increases, Chan said, adding that they now prefer to wait and see the trend of property prices after the hikes kick in.
Meanwhile, Henderson Land Development (0012) sold at least seven flats over the long weekend and cashed in over HK$67 million, said Mark Hahn Ka-fai, a general manager of the sales department.
The Holborn in Quarry Bay recorded three deals after kicking off sales of 20 flats yesterday.
The developer released the third price list last week, offering 45 units at an average price per sq ft of HK$24,355 after discounts.
Two Artlane in Sai Ying Pun also saw one transaction, and the developer has raked in nearly HK$2 billion from the sales of this project, Hahn said.
In Ho Man Tin, Sun Hung Kai Properties (0016) said the showrooms at Prince Central will open to the public today.
Located at 195 Prince Edward Road West, the completed project provides 101 flats ranging from 251 square feet to 1,351 sq ft.
The developer said the price will be unveiled soon and sales may take place within the week.
One-bedroom and studio units account for over 70 percent of the total number of flats in the project and the SHKP previously released the first price list of 50 units last year but the sales were later scrapped.
On the luxury front, Sino Land (0083) and CLP (0002) sold a 2,140-square-foot home at St. George's Mansion in Ho Man Tin for HK$105 million, or HK$49,065 per sq ft, via tender.
