Property sales dropped significantly last weekend as much of the consumption power had been absorbed by the Capitol in the previous week.
About 40 units were sold in the primary market during the weekend, compared with more than 2,000 transactions recorded the week before, when Cheung Kong (Holdings)'s Capitol in Tseung Kwan O launched its sales, according to industry watchers.
At Hung Hom's Harbour Place, formerly Hunghom Peninsula, which was built under the now-defunct government-subsidised Private Sector Participation Scheme, 19 units were reported to have been sold.
The Sherwood - Henderson Land Development's project in Tuen Mun - secured buyers for five units.
Meanwhile, five units at Cheung Kong's Apex in Kwai Chung had been sold.
Industry watchers said the lukewarm trading activity in the primary market was partly due to the wait-and-see attitude of potential buyers, who were expecting another rate cut by Hong Kong banks next week, following the United States' likely cut by 50 to 75 basis points to stimulate her worsening economy.
