Developers sold only 46 units over the weekend
613 units/week sold in previous three weekends.
In the primary market, developers sold 46 units only over the weekend before April 27.
According to a research note from Barclays, this is a stark contrast to the average of 613 units/week in the three weekends before.
As there is no new launches from developers this week, inventories that were sold include 12 units from MacPherson Place, 8 units from the Reach, 6 units from AquaMarine, 4 units from Mont Vert and 16 other units from various projects.
In terms of upcoming launches, there are My Place (196 units, developed by COLI and URA) in To Kwa Wai and High Park Grand (41 units, developed by Henderson Land) in Mong Kok.
Here's more from Barclays:
The former targets entry level buyers with all units offered in studio or in one bedroom design, ranging in 250-357sf and commanding a ticket size between HK$3.3–5.3mn. The latter targets family upgraders with all units in 1,014 or 1,016sf and with a ticket size between HK$21.9-27.1mn if home buyers opt for 90-day payment plan without second mortgage offer.
In the secondary market, weekend volumes have rebounded from their trough as some homebuyers have returned to the secondary market, while the primary market has seen no new launches.
Centaline’s Top 10 Housing Estates recorded 11 transactions during the weekend, up from only three transactions in the weekend before. Taikoo Shing/Mei Foo Sun Cheun/ Kornhill Garden recorded 2/2/1 transactions each after seeing no transaction for two consecutive weekends before.
Kingswood Villa and Carribbean Coast also recorded 4 and 2 transactions this weekend. For the broader measure of Midland’s 35 housing estates for the whole week, it recorded 52 transactions in the week of 13-19 April, up 18% w/w.