Last weekend, 7 transactions were recorded in the top 10 blue-chip housing estates in Hong Kong, setting a new low for 15 weekends.

Zhongyuan Real Estate recorded 7 transactions in the top 10 estates in Hong Kong over the weekend, a decrease of 1 transaction or 12.5% compared to the previous week. All transactions were recorded on Saturday, with no transactions on Sunday due to the impact of the typhoon. Chen Yongjie, Vice Chairman and President of the Residential Department of Zhongyuan Real Estate Asia Pacific, stated that there were no new properties launched for sale over the weekend, and purchasing power flowed back to the second-hand market. Some Sunday property viewing appointments were rescheduled to Saturday, and recording 7 transactions in one day was considered good. With a stable supply and leasing market, buyers are eager to enter the market, driving positive development in second-hand transactions. According to statistics from Midland Realty, during the third weekend of July, 7 transactions were recorded in the top 10 luxury estates, a decrease of approximately 30% from the previous weekend's 10 transactions, returning to single digits and hitting a new low for the past 15 weekends. If expanded to the top 15 estates, 9 transactions were recorded, a decrease of approximately 30.8%. Midland Realty's CEO of the Residential Department, Bo Shaoming, pointed out that the strategy of developers offering properties at market prices has been effective, with ideal sales for new properties this month recording approximately 1,250 transactions so far, igniting market purchasing power. Although there were no new properties launched over the weekend and the focus shifted to second-hand and remaining units, the typhoon hit Hong Kong, with a signal raised to level 10 on Sunday, impacting economic activities and hindering property viewings and market transactions, leading to a decrease in second-hand estate transactions over the weekend. However, the low-interest environment in Hong Kong continues, coupled with the advantage of a stable supply and leasing market, will still attract buyers and long-term investors into the market. It is expected that the number of first-hand transactions this month will increase to around 2,300 transactions, while the second-hand market is expected to record around 4,200 transactions. According to Midland Realty's statistics on the transaction volume of the top 10 indicator estates, only 2 transactions were recorded in the three indicator estates in the Hong Kong Island area, including Taikoo Shing, Hong Kong Garden, and South Horizons, a decrease of 50% from the previous week. In the four indicator estates in the Kowloon area, including Laguna City, Whampoa Garden, Sceneway Garden, and Mei Foo Sun Chuen, a total of 3 transactions were recorded, remaining stable compared to the previous week. In the three indicator estates in the New Territories area, including Yung Wan Garden, City One Shatin, and Gold Coast, a total of 2 transactions were recorded, a decrease of 33.3% from the previous week.