Secondary sales fall over weekendBusiness | Kevin Xu 14 Sep 2020
Centaline Property Agency recorded 14 secondary transactions at 10 blue-chip housing estates over the past weekend, down by 33 percent week-on-week.
With developers launching new projects as the pandemic shows signs of easing, buyers are shifting their focus to the primary market, said Sammy Po Siu-ming, chief executive of Midland Realty's residential division.
In Kwun Tong, a 517-sq-ft flat at Laguna City changed hands for HK$7.6 million, or HK$14,700 per sq ft, after HK$400,000 or 5 percent was cut from the original asking price while in Hung Hom, an 853-sq-ft flat at Whampoa Garden sold for HK$14.68 million, or HK$17,210 per sq ft, after HK$1.32 million was slashed from the asking price.
And in Tin Shui Wai, a 635-sq-ft flat at Kingswood Villas fetched HK$6.38 million, or HK$10,047 per sq ft, after HK$610,000 was slashed from the asking price.
In the primary market, Sun Hung Kai Properties (0016) released 45 flats in the second price list of Wetland Seasons Park phase 3 in Tin Shui Wai at an average HK$13,613 per sq ft after discounts, about 5 percent higher than the first batch.
The cheapest flat in the list costs HK$5.19 million.
In Tuen Mun, Empire Group and Hong Kong Ferry (0050) sold a 406-sq-ft flat at Seacoast Royale for HK$6.6 million, or HK$16,273 per sq ft.
In Aberdeen, K Wah International (0173) sold a 2,747-sq-ft luxury house at Marinella development for HK$137.8 million, or HK$50,164 per sq ft.
In the rentals market, a 254-sq-ft flat at Tak Bo Garden in Ngau Tau Kok was rented for HK$9,200 per month, or HK$36 per sq ft, after HK$1,800 was cut from the initial asking rent. The landlord , who bought the flat for HK$2.6 million in 2013, will earn a rental yield of 4.2 percent per annum.