Centaline records 5 transactions across the top ten housing estates over the weekend, with the number of estates recording zero transactions decreasing to 4.

Centaline records 5 transactions across the top ten housing estates over the weekend, up 25% or 1 more than last weekend, with the number of estates recording zero transactions decreasing to 4. Chen Yongjie, Vice Chairman of Centaline Property Asia-Pacific and President of the Residential Department, said market focus remains on the primary new launch market, mainly because the newly launched projects in recent days are mostly priced below market after discounts, making them more attractive than secondary housing estates. In addition, the distribution of unsold primary units across various districts can satisfy clients from different areas, helping new project sales perform well. In contrast, secondary asking prices are relatively firm, making them less competitive than new projects and causing transaction performance to fluctuate. According to branch statistics from Midland Realty, about 5 transactions were recorded across the 10 major secondary benchmark housing estates over the weekend before the Policy Address was announced. Although this was up about 25% week-on-week from 4 transactions last weekend, rebounding from a low level, it still remained in single digits for 2 consecutive weekends. Calculated across 15 major housing estates, about 6 deals were also recorded, up 50% from last weekend. Midland Realty Senior Director Buggle Lau said the market has seen multiple new project launches in succession recently, with enthusiastic market response. The first-round launch of the Hung Hom new project Upper Central over the past weekend was nearly sold out on the same day, with no shortage of large buyers entering the market for investment, reflecting solid market purchasing power. Buyers are actively chasing quality properties, while also capturing many secondary buyers and purchasing power. In addition, the market is watching the new Policy Address and the first five-year plan to be announced during the week, as well as the Federal Reserve's interest rate meeting. Combined with generally narrowing room for negotiation among secondary sellers, prospective buyers are also waiting for news, causing secondary transactions to move sideways at a low level over the weekend. However, as the property market becomes clearer, secondary purchasing power will return to the market, driving transactions, and property prices are also expected to rise. By district, 3 benchmark housing estates in Hong Kong Island, including Taikoo Shing, Kornhill Garden and South Horizons, recorded 1 transaction over the weekend, similar to last weekend. In Kowloon, 4 benchmark housing estates, including Laguna City, Whampoa Garden, Metro City and Mei Foo Sun Chuen, recorded 3 transactions over the weekend, up 2 times week-on-week. In the New Territories, 3 benchmark housing estates, including Caribbean Coast, City One Shatin and Kingswood Villas, recorded only 1 transaction over the weekend, down 50% week-on-week.