Centaline's top ten housing estates recorded 8 transactions over the weekend, up 33.3% week-on-week.

Centaline's top ten housing estates recorded 8 transactions over the past weekend (the 30th and 1st), rebounding 33.3% from 6 transactions the previous weekend. Chen Yongjie, Vice Chairman of Centaline Property Asia-Pacific and President of the Residential Department, said that no new projects were sold in the primary market over the past weekend, with some purchasing power flowing back to the secondary market. In October, the primary market recorded more than 1,700 transactions, an increase of more than 20% from the previous month. Recently, several new primary projects have begun soft marketing and are expected to launch within the month. The US interest rate meeting held earlier did not raise rates, which was within market expectations and has a supporting effect on the property market. It is expected that in the short term buyers will move between the primary and secondary markets, comparing and selecting their preferred listings, which is expected to drive overall transaction volume. According to statistics from another agency, Midland Realty branch, the 10 major benchmark housing estates recorded about 8 transactions over the past weekend, up 1 transaction or 14.3% week-on-week from about 7 transactions the previous weekend, and remained at single-digit levels for 9 consecutive weekends. Calculated across the 15 major housing estates, about 8 transactions were recorded on Saturday and Sunday, flat week-on-week. Bugao Shao Ming, Senior Director of Midland Realty, said that multiple brand-new projects are preparing to launch in November, stimulating continuous emergence of purchasing power. Although no large-scale new projects were launched over the just-passed weekend, certain brand-new projects were collecting cheques and opening show flats for viewing, thereby absorbing considerable secondary-market customer sources and attention and keeping transactions at benchmark secondary housing estates stable. However, the US keeping interest rates unchanged, Hong Kong mortgage rates remaining at low levels, and rising rents with attractive rental returns will also drive owner-occupier and investment demand, supporting the overall property market, with the secondary market also benefiting.