Ten blue-chip housing estates saw six deals over the weekend despite adverse weather, the same as the previous weekend, data from Centaline Property revealed.
Though the No 9 typhoon signal was hoisted late yesterday, the secondary market seemed surprisingly unaffected, with six homes traded in 10 major housing estates.
The other two deals were struck for units at Whampoa Garden in Hung Hom and Mei Foo Sun Chuen in Lai Chi Kok.
Louis Chan Wing-kit, Asia Pacific vice chairman of the residential division at Centaline Property Agency, said that the market's having the same number of transactions under adverse weather showed that sentiment was strengthening.Another boost came from price cuts offered by homeowners.
A three-bedroom unit at Kingswood Villas went for HK$5.13 million, or HK$9,500 per square foot, marking a paper profit of just HK$90,000 for the vendor. Chan said buyers showed a tendency to snap up the cheaper units as soon as possible, to lock in the benefits in advance while waiting for the anticipated stamp duty cuts.Expectations for the upcoming policy address also boosted the number of deals in Midland Realty's 10 major housing estates to nine over the weekend, up by 50 percent weekly.
But Midland expects the home prices might remain flat until the US Federal Reserve gives a clearer signal on when this interest rate hike cycle will end.Meanwhile, home prices might drop further, making for a 3 percent fall for the whole year, if the policy address disappoints the market, warned Midland.
Hong Kong Property recorded five transactions in its top 10 blue-chip housing estates, one case more than the previous weekend, as more buyers viewed flats in advance to seek quality targets with price cuts.
