bodyType

customContents

entityId

entityUuid

articlePageQuery

filter

article

articleBaseAdvertisingInfoArticle

articleListArticle

articleSeoArticle

hooksArticleAcknowledgementGateOverlayArticle

hooksTrackPageViewArticle

hooksContentInterestArticle

articleLinkingDataContent

hooksAmpRedirectArticle

articleSchemaContent

liveArticle

advertZone

sentiment

contentLock

topics

types

sections

paywallTypes

createdDate

publishedDate

sponsorType

urlAlias

moreOnThisArticles

commentCount

authorLocations

authors

corrections

displaySlideShow

multimediaEmbed

printHeadline

seriesContainer

articleSpeeches

socialHeadline

headline

images

flag

firstTopic

glossary

flattenTypeIds

image

relatedLinks

relatedNewsletters

__typename

sponsor

pdfFiles

seriesReverseOrder

series

disableOffPlatformContent

published

updatedDate

summary

subHeadline

body

keywords

readingTime

customTimezone

liveContents

SCMP Reporter

Sales in the Hong Kong primary property continued to hover at a low level at the weekend.
Only about 35 units were sold, although the transactions represented a surge of 250 per cent from the 10 units sold in the previous weekend. Still, the figures were comparable with  sales during the Lunar New Year holiday from February 7 to 10 - a traditional low point for the year - when 30 units changed hands.
Analysts said the low transaction volumes reflected a consolidation in the market.
Buyers remained hesitant to enter the market as they feared prices could fall further after a rapid increase in capital values over the past few months.
Meanwhile, transactions and average prices in the secondary market dropped for the second consecutive week, according to Ricacorp Properties. A total of 329 units changed hands in the 50 key housing estates monitored by the property agent, down 7.32 per cent from 355 transactions a week earlier.
Sales in nine housing estates on Hong Kong Island were unchanged at 39 units while in  20 housing estates in Kowloon, deals were down 2.75 per cent at 106 units.
The New Territories had 184 units sold in the 21 housing estates monitored by Ricacorp, a drop of 11.11 per cent from 207 units in the previous week.
Despite the fall,  average prices realised in secondary market sales in Kowloon edged up 0.6 per cent after a 0.2 per cent drop  the previous week.
Prices on Hong Kong Island dropped 2 per cent while those in the New Territories fell 0.4 per cent. Overall prices fell 0.3 per cent on the week. It declined 0.4 per cent in the previous week.
David Chan, a director at Ricacorp, said he expected transactions to rebound  20 per cent this week to 400 units as some speculators lowered their asking prices  to push their properties.
Mr Chan said there would be a  0.5 per cent decline in average transaction prices.



Primary market transactions remain low amid drop in prices