Here's what happened two weeks after the latest property measure

Home sales plunge 64% to 25 units.

According to Nomura, for the second weekend after the extended SSD and 15% BSD were introduced, developers’ sales dropped a further 64% w-w to 25 units. HLD/NWD’s The Reach remained the major contributor to primary sales, with 14 units cleared over the weekend.

Here's more from Nomura:

The Sing Tao Daily reported that, so far, there have been three transactions with the buyer stamp duty imposed at The Reach. Developers launched 608 units (23.6% of total 2,580 units) with an average selling price of HKD7,233psf and sold around 330 units.

Units with a sale price of below HKD3.6mn have been almost cleared. Most buyers are still standing on the sidelines with a wait-and-see approach. 

Upcoming launches to watch include: SHKP’s The Wings II (around 780 units), Nan Fung/Sino/K. Wah’s The Graces (193 units) in Tai Po, Cheung Kong’s One West Kowloon (286 units) at Lai Chi Kok and HLD’s High Point (138 units) at Sham Shui Po.   

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