Property sales picked up last week after taking a dip over the Lunar New Year holiday. About 50 units were sold in the primary market over the weekend, industry watchers said, compared with around 30 transactions recorded during the four-day holiday between February 7 and 10.
Wheelock Properties' Bellagio at Sham Tseng, which was taken off the market in mid-November, was relaunched last weekend and was reported to have attracted 30 buyers at prices ranging between HK$4,200 and HK$5,500 per square foot. Sales revenue was HK$150 million, the developer said.
At Henderson Land Development's The Sherwood in Tuen Mun, seven units were reported to have been sold, while at Hung Hom's Harbour Place - a joint venture between Sun Hung Kai Properties and New World Development - buyers were secured for 14 units.
Over the full week, transactions in the secondary market rebounded significantly from the previous week as owners and buyers returned from their vacations.
A total of 476 units changed hands in the 50 key housing estates monitored by Ricacorp Properties - up 86.6 per cent from 255 transactions recorded a week earlier.
Transactions in 20 housing estates in Kowloon were up 77.2 per cent at 156 units, while in 21 housing estates in the New Territories, deals were up 91.9 per cent at 259 units. No deals were reported at Sceneway Garden in Lam Tin.