Ho-hum residential sales reflect landlords still favored

The Top 10 secondary residential estates reported a mere 13 sales transactions over the 15 June weekend.

Mediocre primary sales and weak secondary transactions seem to prevail. Primary residential properties report 37 units sold, with  The Riverpark developed by New World Dev fetching the most transactions. 

Here's more from Maybank Hong Kong:

37 units of primary residential properties were sold over the 15 June weekend, versus the previous week’s 393, dominated by a new launch, Heya Green, which fetched 320 transactions. The Riverpark atop Che Kung Temple Station developed by New World Dev recorded 20 transactions and dominated the week-end primary sales while Kowloon Dev ’s Shamshuipo project, Gardenia, recorded 5 sales. The Beaumount developed by Cheung Kong attracted over 1.500 registrations, and the project will launch shortly after presale consent was issued last week.

Separately, top 10 secondary residential estates recorded only 13 transactions over the weekend, versus 15 in previous week. It seems that the developers’ sentiment will remain weak amid mediocre primary sales and weak secondary transactions. It seems to continue to favour landlords over developers and property agency plays.