The atmosphere in the second-hand market continues to heat up, with the number of weekend appointments for viewings in 50 benchmark estates rising for four consecutive weeks

The atmosphere in the property market continues to improve, driving activity in the secondary market for viewings and transactions. Chen Haichao, head of the research department at Ricacorp Properties, stated that large new developments have reported success one after another and have launched a new phase. Driven by the market atmosphere, viewings and transaction activities in the secondary market have become active, with the number of appointments for viewings in key housing estates increasing for four consecutive weeks. According to data estimated by the research department of Ricacorp Properties, a total of 1,325 groups of clients made appointments for viewings in 50 key housing estates across Hong Kong over the weekend, an increase of 2.3% compared to 1,295 groups last weekend, reaching a new high in nearly nine weekends.

By region, the number of weekend appointments for viewings in key housing estates in Hong Kong Island, Kowloon, and the New Territories has risen across the board. In the New Territories, 21 key housing estates recorded 585 groups of clients making appointments for viewings this weekend, an increase of 2.6% week-on-week. Huang Wansheng, senior regional director of Ricacorp Properties in Tai Wai, stated that the number of weekend appointments for viewings in Ming City and City One Shatin has generally remained similar to last week. Some units in City One Shatin have seen prices rise from about HKD 4 million to about HKD 4.4 million to HKD 4.5 million. Although owners have raised prices, buyers have generally accepted the price increases and are willing to expedite their decisions to enter the market. He anticipates that this small spring in the market may last for a while, with transaction trends continuing to improve. In Hong Kong Island, 8 key housing estates recorded 245 groups of clients making appointments for viewings this weekend, an increase of 2.1% week-on-week. In Kowloon, 21 key housing estates recorded 495 groups of clients making appointments for viewings over the weekend, an increase of 2.1% week-on-week