September property transactions slump in value

Business | Kevin Xu 3 Oct 2019

The value of overall property transactions slumped 14.3 percent month-on-month to HK$36.38 billion in September, the lowest since July 2016, amid the Sino-US trade war and local unrest, according to Midland Realty.

Buggle Lau, chief analyst of Midland Realty, expects the value to increase above HK$40 billion this month.

The number of licenses held by individuals fell by 185 to 39,589 in September, a 14-month low, according to the Estate Agents Authority.

The number of estate agent companies also fell by 13 to 7,101.

In the primary market, CK Asset (1113) will launch the first price list of Seaside Sonata in Sham Shui Po as soon as next week.

The project provides 876 flats. About 75 percent of them are two-room units, ranging in size from 474 to 507 sq ft. The rest are three-room units, measuring between 695 to 786 sq ft.

Meanwhile, the number of mortgages for completed units fell 11.7 percent month-on-month to 9,686 in September, while the number of mortgages for pre-sold unfinished units were 1,569, down 7.8 percent from last month, according to mReferral Mortgage Brokerage Services.

In other news, the Hong Kong Interbank Offered Rate saw an overall pullback on the first trading day in the fourth quarter. The overnight Hibor fell by 1.66 percent to 1.3818 percent, the lowest over the past four trading days.

The one-month Hibor, which is linked to the mortgage rate, slid by 4.8 basis points to 1.8361 percent, a three-month low.

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