Central Plains: Hong Kong's top ten districts recorded 136 transactions in August, a slight increase of 3% month-on-month. The market expects interest rate cuts to bring a turning point to the property market

The Zhitong Finance App learned that Zhongyuan Real Estate's top ten districts in Hong Kong recorded 136 transactions in August, a slight increase of 3% over the previous month. In terms of price, the price per square foot fell in 8 residential areas this month, with a drop of between 0.5% and 6.9%. Among them, the price per square foot in Ligang City fell 6.9% month-on-month. Chen Yongjie, vice chairman of the Asia Pacific region of Central Plains Real Estate and president of the Housing Department, said that the market is waiting for the Federal Reserve to cut interest rates next month. On the one hand, there is a strong wait-and-see atmosphere. Overall trading is running smoothly and rampant. On the one hand, about 500 transactions were recorded this month, which is a new low after being withdrawn. Many developers are also waiting to cut interest rates before starting to launch large-scale new listings. Recently, the overall market atmosphere is positive. Some buyers plan to seize the low level of property prices before interest rate cuts and actively look at the buildings Comparatively, looking for bamboo shoots, there are also buyers who have recently looked at a fixed building and can speed up the pace of entry into the market after interest rate cuts are implemented.

In terms of building volume, the ten major districts recorded about 410 groups of buildings this weekend, up 8.5% from week to week, reaching a 14-week high. It is expected that after the Federal Reserve officially starts cutting interest rates next month, the accumulated purchasing power will be released one after another, and trading volume will clearly pick up.

On the Hong Kong Island side, all three indicator districts recorded an increase in sales volume in August. Among them, Kornhill Gardens recorded the biggest increase, with an 80% increase over the previous month. Yang Wenjie, chief sales manager of the Kangyi Kang'an Street Branch of Central Plains Real Estate, said that Kornhill Garden recorded 9 transactions this month, an increase of 4 over the previous month. The average practical price was HK$12,793. The market is looking forward to interest rate cuts. Some buyers are preparing to see buildings in advance to boost the building viewing atmosphere in the district. The community recorded 40 groups of property viewing reservations this weekend, up 33.3% from week to week. The price per call remained unchanged at HK$13,400.

Zhao Hongyun, senior regional sales director of Zhongyuan Real Estate Taikoo Shing Dongshan Pavilion, said that the market is full of good news, and that many owners are willing to expand bargaining space to speed up second-hand transactions in the community. Taikoo Shing recorded 23 second-hand transactions this month, an increase of 27.8% over the previous month. The average practical price was HK$14,020 per square foot. There was no significant improvement in the building viewing atmosphere in the district this weekend. There were 25 groups with reservations, which remained flat from week to week. The practical price per square foot was about HK$17,300, a slight increase of 0.6%.

In the Kowloon region, Fung Kin-ping, the division sales manager of Central Plains Real Estate West Kowloon Mei Foo Mastercard Branch 3, said that Mei Foo Sun Chuen has temporarily recorded 23 transactions so far this month, with a sharp recovery of more than 40% over the previous month. The average utility price continued to drop. This month it fell to HK$9,337, a decrease of 2.3% over the previous month, and has been below the 10,000 yuan level for 4 consecutive months. There was no focus on new sales this weekend. The market customer distribution was average. Mei Foo Sun Chuen maintained 55 reservations for property viewing this weekend. Owners in the district saw that the viewing climate was mediocre, and they were afraid to make aggressive pricing. The practical price per square foot of the community was further refined down to HK$10,800.

Hong Jinxing, sales manager of the Ligang City Division of Central Plains Real Estate, said that Laguna City recorded 70 bookings this weekend, an increase of 7.7% from week to week. Some buyers felt that the US was about to enter a cycle of interest rate cuts and decided to sneak around to see buildings, stimulating the building viewing atmosphere in the region. In terms of transactions, Laguna City recorded 7 transactions this month, 2 fewer than the previous month, or 22.2% less. The average utility price was also drastically reduced by 6.9%. The latest report was only HK$10,800, further attracting buyers to go out and look for bamboo shoots.

On the New Territories side, Wu Jinji, Deputy Regional Sales Manager of Central Plains Real Estate's Shatin First Town Branch, said that Shatin First Town has temporarily recorded about 17 transactions this month, up 21.4% from the 14 recorded last month. The average practical price is about HK$1,2528. Recently, there is a strong wait-and-see atmosphere in the market. Most of them are waiting for the US interest rate negotiations next month, and the entry attitude is quite cautious. However, there are also some buyers who want to take advantage of the weekend to take advantage of the rising property market. The community recorded about 50 groups this weekend to see the rise in the market compared to the weekly sales volume. Approximately 11.1%.

Wu Yaozu, Deputy Regional Sales Director of Central Plains Real Estate Tin Shui Wai, said that Kingswood Villas has recorded 17 transactions so far this month, down 39% from 28 in the previous month. The average practical price per square foot was HK$8040, up 0.5% from the previous month to HK$8,000. The market is waiting for the Federal Reserve to start cutting interest rates, hoping to bring a turning point to the property market. Currently, there is a strong wait-and-see atmosphere. Buyers are entering the market carefully, but recently there is no shortage of buyers who are looking for a bamboo shoot for real estate, with the intention of entering the market immediately after the Federal Reserve implements interest rate cuts. This weekend, Kingswood Villas recorded 70 groups of property viewing reservations, up 16.7% from last week. The practical price per square foot remained at HK$8,900.