Like Tree2Likes

Hong Kong Property Sales Down 36% in April

Closed Thread
Page 2 of 2 FirstFirst 1 2
  1. #11

    Join Date
    Dec 2011
    Location
    Tsim Sha Tsui
    Posts
    3,963

    I live in TST and have been flat hunting most of last week around Kowloon. I currently flat share with my good friend, who has been living in this flat for 3.5 years, both this flat and the previous one he stayed in (Jordan) was done through this rather quirky estate agent (licensed but does it as a side job, commission is negotiable). She said that rents have plateaued, they could be due for a slight drop.

    She showed me around what was suitable for me, and was pleasantly surprised with what I could get for my money (not high expectations, don't mind older flats).


  2. #12

    You might want to look at Kowloon Station, and TKT (Tai Kok Tsui), where you can get more for your money. These two areas should also benefit from the XRL, Express Train for China, which should start operations in the second half of 2015.

    I will send you some info by PM, if I can find out how to do that...


  3. #13
    Quote Originally Posted by OffThePeak:
    HOW SWEET IT WAS...
    VERY SLOW - But not so slow as reported

    The previous information that I got from an agent in the TST / Olympic station area and reported here was wrong. I met another agent over the weekend and she told me that she did not believe the slowdown in sales was nearly as much as I had been told. So I said I would check. And I have done that now.

    From Modern buildings in the Olympic area the Average for 2012 was 80 Sales transactions per month. Sales are running far below that now, but nothing like as low as the first agent had told me.

    Following summarises the data. Which has basically been slowing since the beginning of the year, and more since the "double whammy" in late February. In April, the Centaline data showed 22 Sales, down 72% from the 2012 average, not the 90%+ I had been told by the first agent.

    Property--: 2012 : J-Apr'13
    per month
    ========
    MODERN
    Metro H.V. : 30.6 : 10.5: - 65.7 %
    Park Ave.. : 11.4 : 10.0: - 12.3 %
    Island H.V : 10.6 : 5.8- : - 45.3 %
    Harb. Grn. : 8.9- : 5.0- : - 43.8 %
    Hamp. Pl.. : 4.6- : 2.8- : - 39.1 %
    Long Bch. : 3.1- : 2.8- : - 9.8 %
    Other ---- : 10.4 : 5.9- : - 43.3%
    ================
    Olym.Area 79.6 Sales

    2013 Jan : 54 : - 32.2% vs. 2012 Ave.
    ----- Feb. : 59 : - 25.9%
    ----- Mar. : 36 : - 54.8%
    ---- Apr. : 22 : - 72.4%
    =======
    Jan-Apr. : 42.8 : -46.2%
    =====
    Last edited by OffThePeak; 13-05-2013 at 10:33 AM.