The number of secondary sales in 10 major housing estates in Hong Kong recorded by Centaline Properties rose from seven to nine over the weekend, as market sentiment improved.
News that the US Federal Reserve is likely to end its cycle of interest rate hikes coupled with a prediction of three rate cuts next year, has boosted buyer confidence and stimulated the market, the real estate agency said.
Midland Realty also recorded nine transactions at 10 major estates during the weekend, up from six the previous week.
But sellers remained at the losing end.
A 922-square-foot home in Taikoo Shing went for HK$14.8 million, with the seller taking a hit of nearly HK$4 million, having bought the flat for HK$18.7 million in March 2019.
The loss of HK$3.9 million showed the flat's value had depreciated by nearly 21 percent.
Meanwhile, a two-bed flat at Orlins Court in Sai Ying Pun sold for HK$4.75 million after its asking price was cut by 13.5 percent.
In the primary market, Sun Hung Kai Properties (0016) sold close to 900 flats at its Yoho West project in Tin Shui Wai within a span of 15 days, cashing in over HK$4.5 billion.
The developer has introduced a sixth price list featuring 159 flats at an average discounted price of HK$12,599 per sq ft, slightly higher than the previous list.
SHKP will launch the fourth batch on Wednesday with 291 flats, comprising all units from the sixth list, with an overall discounted average price of HK$12,139 per square foot.
