Secondary deals pick up over the weekend

Business | Kevin Xu 31 Aug 2020

The property market is warming up again as secondary transactions at ten blue-chip housing estates jumped by about 18 percent over the weekend from a week before.

Centaline Property Agency recorded 20 secondary transactions at ten major estates over the past weekend, up by 17.6 percent week-on-week.

A local developer is offering a duplex flat at Kornhill in Quarry Bay for sale at HK$22.8 million, or HK$20,652 per sq ft, after slashing HK$1 million from the initial asking price, local media reports.

Another 522-sq-ft flat at the estate changed hands for HK$8.6 million, or HK$16,475 per sq ft, after HK$300,000 was cut from the original asking price.

In Tin Shui Wai, a 633-sq-ft flat at Kingswood Villas fetched HK$5.66 million, or HK$8,942 per sq ft, after HK$90,000 was cut from the first asking price.

In Kwun Tong, a 517-sq-ft flat at Laguna City sold for HK$7.6 million, or HK$14,700 per sq ft, after HK$200,000 was cut from the initial asking price.

In the primary market, Empire Group and Hong Kong Ferry (0050) sold 30 out of 76 flats on offer at Seacoast Royale in Tuen Mun on Saturday.

Meanwhile, more transactions have been recorded at Lohas Park after the first shopping mall in the estate opened.

A mother's children bought her a four-bedroom flat at Sea to Sky, which was offered at HK$20 million or HK$18,614 per sq ft, according to local media reports.

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