Hong Kong's weekend property sales get driven by leftovers

54 units sold over the week.

Citing the Hong Kong Economic Journal (HKEJ), Barclays said developers sold 54 primary units over the past weekend.

Given the absence of new launches, the primary market continued to be driven by the sales of leftover inventories.

Here’s more from Barclays:

Notable weekend sales include 14 units at NWD’s Park Signature in Yuen Long, 9 units at Kerry’s The Summa in Western District and 9 units at Wong On’s The Met.Delight in Sham Shui Po. SHKP sold four units at Riva in Yuen Long over the weekend.

Cumulatively, the developer has sold around 400 units with HK$3bn sales proceeds so far. For this week, 82 and 21 units will be offered for sale on Thursday and Friday (13, 14 March 2014).

Looking ahead, the market’s focus has shifted to the upcoming new launches, including the 213 leftover units at Henderson Land/NWD’s Double Cove Phase I in Ma On Shan (total 928units) and Swire Properties’ Mount Parker Residences in Quarry Bay (90 units).