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10 major housing estates involving more than 3,000 units, 40% can be used as 90% mortgages

As the epidemic situation becomes more serious, the direction of the property market is unpredictable, coupled with the wave of immigrants and property owners seeking goods, as well as the rise of online listings in recent years, the number of second-hand property listings in the market has surged. According to real estate agency online listing information, the latest sales and listings of the 10 largest housing estates have surged by more than 1.4 times compared to before the outbreak of the epidemic at the end of 2019. With the surge in listings, the number of listings worth NT$8 million or less, which can handle 90% of mortgages, has more than doubled.

According to listing information on Centaline Real Estate's website, there are currently about 3,020 units on sale in 10 major blue-chip housing estates. Compared with about 1,227 units in October 2019, the number of units on sale has increased significantly by about 1,793 units. Among them, there are currently about 1,220 units with an asking price of NT$8 million or less, accounting for about 40% of the total supply. It has also increased by about 825 units from about 395 units more than two years ago.

Kingswood Villas grew 3.3 times the most

Since the outbreak of the epidemic, the online listings of the above-mentioned major large-scale housing estates have all increased, with an increase of about 24.2% to more than 3.3 times. Among them, the above-mentioned car listing of Kingswood Villas in Tin Shui Wai has the most significant increase. There are currently about 775 listings online. Compared with before the epidemic, Only about 177 projects were recorded, which surged several times. However, there were about 750 projects that could sell 90% of the mortgages, which was the most among the 10 projects in the same batch. It increased by more than 3.6 times in about two years.

The number of online listings in City One, Shatin, which is also a small-priced project, has also increased from about 107 more than two years ago to about 233 currently. About 181 of them are priced at NT$8 million or less, an increase of more than 90% over the same period. The agent revealed that in addition to the increase in listings from immigrant owners, many investors have seen the rental return rate drop in recent years and prefer to cash out for exchange. In addition, the transaction volume in the past two years has been low, and a certain number of listings have accumulated.

Mei Foo Sun Estate, Lai Chi Kok, Kowloon's benchmark housing estate, has about 468 online listings, nearly 1.6 times more than in October 2019. Among them, the number of listings for NT$8 million or less increased by about 2.7 times to about 100 during the period. Agents in the area said that with the decrease in transactions in recent months, the accumulated listing volume has naturally increased. In addition, the trend of online listings by owners has become more popular than before, making the process simpler. The current asking price of housing estates is about NT$6 million.

As for Whampoa Gardens in Hung Hom, there are currently about 27 online listings priced at NT$8 million or less, which is about twice the number of more than two years ago. The total number of listings is about 178, an increase of more than 1.37 times. Zhongyuan Zhou Delong pointed out that owners of small-scale units in housing estates have seen the falling property prices and are selling their properties for replacement, which has started the property-exchange chain. The listing of mid-to-low-priced units has increased. The current entrance fee for housing estates starts from about NT$6.9 million.

Only one household in Taikoo Shing is worth 8 million

There are about 437 listings in Taikoo Shing, Quarry Bay, the benchmark project on Hong Kong Island, nearly 1.2 times more than two years ago. However, there is only one listing that can provide a 90% mortgage. A low-rise unit with a salable area of ​​482 square feet in the housing estate Green Lake Terrace, with two rooms separated, has a price reduction of NT$300,000. It was recently sold for NT$8 million, with a price of about NT$16,598 per square foot. After negotiation, the price may be lower than the "8 ball" , housing estates temporarily recorded about 10 transactions this month.

In recent years, major agents have invested resources in developing online listings and property viewings. Chen Yongjie, vice chairman of Centaline Real Estate Asia Pacific and president of the residential department, said that the popularization of online listings is a general trend. In line with the development of technology, owners use the Internet to place listings without having to go to an agency in person. Listings are more convenient and the supply of listings increases.

He also said that in addition to real estate agents taking videos to introduce properties, many property owners have recently taken the initiative to provide photos and videos of their units, so that prospective buyers can view properties online at any time during the epidemic, so the property market has not stalled. Chen also pointed out that the bank's turnover has increased in recent years, and the online resources invested every year have increased exponentially.