Midland Realty: 159 transactions were recorded in the top ten housing estates in August, the market anticipates interest rate cuts and positive measures in the policy address.

Midland Realty recorded 7 transactions in the top 10 housing estates over the weekend, a decrease of 1 transaction or 12.5% compared to the previous week. There were 6 estates with zero transactions, with transactions concentrated in the New Territories with a total of 5 transactions. The most transactions were recorded in Kagoo Shan Village with 4 transactions, making it the highest among the top 10 estates. 2 transactions were recorded in Kowloon, while there were zero transactions in Hong Kong Island. In summary, the top 10 housing estates in Hong Kong recorded a total of 159 transactions in August, a decrease of 20.5% compared to the previous month. Yankee Chen, Vice Chairman of Midland Realty Asia Pacific and President of the Residential Department, stated that the second-hand market is maintaining a stable development. Recently, several new projects in Hong Kong Island were sold at low prices, and there were also discounts for unsold units in Kowloon, which slightly impacted second-hand transactions. However, second-hand transactions in the New Territories remain active. The market is anticipating good news to be announced next month, including a probable rate cut by the Federal Reserve and positive measures in the policy address, which are expected to further boost the property market. According to statistics from Midland Property Branch, 9 transactions were recorded in the top 10 indicator estates over the last weekend of August and before the end of summer vacation, an increase of 12.5% compared to the previous week, marking the second consecutive week of increase. If the top 15 estates are considered, there were 15 transactions, an increase of approximately 36.4% compared to the previous week. In total, around 158 transactions were recorded in the top 10 indicator estates in August, a decrease of about 18.6% compared to July. Bruce Mak, Chief Executive Officer of the Residential Department at Midland Property, pointed out that the recent positive performance of the Hong Kong stock market has driven wealth effect, along with factors such as hot sales in primary markets, leading to capital inflow into the property market. Two major events are expected in September, including the rate cut by the Federal Reserve and the upcoming Policy Address, prompting some buyers to rush in anticipation of favorable policies. Buyer interest in viewing properties has been high, with 6 consecutive weeks of increasing appointments to view properties in the 15 indicator estates, reflecting strong demand. However, as high-quality properties gradually diminish, second-hand transactions are temporarily stabilizing in a positive trend. Mak estimated that the market expects positive news from the "two major events" in September, which would not only sustain the hot market for new properties but also attract buyers back to the second-hand market for bargains, injecting new momentum into the property market. It is anticipated that primary market transactions will remain active in September, while the second-hand market will continue to follow the trend, with both transaction volume and prices expected to remain stable or rise. If the market surprises positively with measures announced in the Policy Address, it may become an opportunity for the second-hand property market to break through officially. According to statistics on the weekend transaction volumes of the top 10 indicator estates by Midland Property, 3 estates in Hong Kong Island, including Taikoo Shing, King's Park Hill Park, and South Horizons, recorded 1 transaction, remaining stable compared to the previous week. In Kowloon, 4 indicator estates, including Laguna City, Whampoa Garden, Sun Tuen Mun, and Mei Foo Sun Chuen, recorded 5 transactions, a decrease of approximately 16.7% compared to the previous week. In the New Territories, Yingwan Garden, Shatin City One, and Kagoo Shan Village recorded 3 transactions, an increase of 2 transactions or 200% from the previous weekend. Regarding the overall monthly transactions of estates, the top 10 estates recorded approximately 158 transactions in August, a decrease of around 18.6% compared to July, with Taikoo Shing, King's Park Hill Park, and South Horizons in Hong Kong Island accounting for approximately 46 transactions, a decrease of about 23.3% month-on-month. The 4 indicator estates in Kowloon, including Laguna City, Whampoa Garden, Sun Tuen Mun, and Mei Foo Sun Chuen, recorded approximately 65 transactions, a decrease of around 12.2% compared to the previous month, while Yingwan Garden, Shatin City One, and Kagoo Shan Village in the New Territories recorded approximately 47 transactions, a decrease of about 21.7% month-on-month.