Here are the stellar property sales of the week

Far East Consortium is a clear winner.

According to Barclays, while market participants expect the relaxation of the Double Stamp Duty (DSD) to benefit the property market, transaction activity over the first weekend following the announcement was largely unchanged. 

According to the Hong Kong Economic Journal, the primary market remained stable over the past weekend with 19 units sold.

Here's more from Barclays:

Over the weekend, Far East Consortium offered 20 units at Eivissa Crest in Western District for sale with an average price of around HK$20,334psf. However, the response was lukewarm with only 5 units sold.

The development is a 106-unit single block building. Other notable sales include 3 units at NWD’s Park Signature in Yuen Long, 2 units at Cheung Kong’s Diva in North Point and 2 units at Housing Society’s Harmony Place in Shau Kei Wan.

Among the upcoming launches, Cheung Kong’s 1717-unit City Point in Tsuen Wan and Kowloon Development’s 293-unit Macpherson Place in Mongkok are reportedly ready for launch soon, according to the HKEJ.

The first price lists for both projects are expected to be released this coming week, according to the HKEJ. We believe Cheung Kong’s City Point project will be regarded as a key test as to whether the recent pick up in homebuying sentiment can be sustained.