{"id":20294,"date":"2016-07-20T15:20:27","date_gmt":"2016-07-20T08:20:27","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-in-hong-kong-rise-slowly-in-june\/"},"modified":"2016-07-20T15:30:54","modified_gmt":"2016-07-20T08:30:54","slug":"home-sales-in-hong-kong-rise-slowly-in-june","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-sales-in-hong-kong-rise-slowly-in-june\/","title":{"rendered":"Home sales in Hong Kong rise slowly in June"},"content":{"rendered":"


\nA shortage of buyers for both bargain finds and luxury digs
\nA stunning view over Hong Kong. Image credit: Studio Incendo (Flickr)
\nDue to a robust showing in the new homes market, residential sales in Hong Kong managed 4,620 units in June, a month-on-month volume increase of 0.7 percent, data from the Land Registry showed.
\nAmong other new residential developments, Park Yoho Venezia turned over 90 percent of units within hours of launching in June and oversubscribed by the end of the month.
\nHong Kong may see a trend of oversubscribed developments play out for a period of time, as developers continue to dangle highly competitive mortgage plans and massive discounts, Knight Frank reported. Park Yoho Venezia made headlines last month after offering a record 120 percent loan-to-value mortgage scheme.
\nMore: Hong Kong apartment claims \u2018most expensive\u2019 title in Asia
\nBargain-hunting homebuyers can be credited for a recent stabilisation in property prices, although Knight Frank expects home values to drop by 5 to 10 percent over the year, with mass residential prices sliding down 10 percent.
\nLuxury-seeking buyers now seem to want in on the action, despite a reported shortage of foreign financiers coming in with generous corporate packages. Severn Villa at The Peak, for example, recently saw a top-floor unit sell for a record HKD232 million (USD29.9 million).
\nNext quarter, the Hong Kong government will tender seven residential sites, bringing more than 4,800 flats into the private housing supply. The sites consist of Beacon Hill, Kai Tak, Kwun Tong, Yuen Long, and Sha Tin, plus two others in Tuen Mun.
\nThe number of homes pending pre-sale consent has risen to 14,526 units, an eight-month peak, according to the Lands Department.
\nRead next: 5 reasons why Sheung Wan is the Brooklyn of Hong Kong
\n
\nSource : property-report.com
\nRead more…Home sales in Hong Kong rise slowly in June<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A shortage of buyers for both bargain finds and luxury digs A stunning view over...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-20294","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-5hk","jetpack-related-posts":[{"id":149740,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-home-sales-poised-for-best-month-in-a-year-as-hava-yoho-west-parkside-sell-out\/","url_meta":{"origin":20294,"position":0},"title":"Hong Kong home sales poised for best month in a year as Hava, Yoho West Parkside sell out","date":"March 7, 2025","format":false,"excerpt":"\r Kerry Properties sold 59 of the 133 flats on sale at the Hava residential project in Yuen Long as of 920pm on Thursday evening.\r \r Source : South China Morning Post\r Read more...Hong Kong home sales poised for best month in a year as Hava, Yoho West Parkside sell\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/are-hk-developers-being-too-generous-with-mortgages\/","url_meta":{"origin":20294,"position":1},"title":"Are HK developers being too generous with mortgages?","date":"July 7, 2016","format":false,"excerpt":"\r Buyers are being tempted by 120 percent mortgages Another day, another dollar. Image credit: Krystal T (Flickr) Non-banking lenders are getting a tad too generous. This was the view of the Hong Kong Monetary Authority regarding the phenomenon of high mortgage loan-to-value ratios being bandied by property developers recently\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":55957,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-homebuyers-unfazed-by-tighter-mortgage-rules-as-14000-register-for-chueng-kong-project\/","url_meta":{"origin":20294,"position":2},"title":"Hong Kong homebuyers unfazed by tighter mortgage rules as 14,000 register for Chueng Kong project","date":"May 25, 2017","format":false,"excerpt":"\r Cheung Kong Property Holdings\u2019 Ocean Pride development in Tsuen Wan has become the most sought after project since August last year after it registered 14,000 prospective buyers who were unfazed by the Hong Kong banking regulator\u2019s moves to tighten mortgage lending for investors. Sun Hung Kai Properties registered 16,700\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96321,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/few-takers-for-latest-batch-of-flats-at-hong-kongs-cheapest-residential-project-this-year\/","url_meta":{"origin":20294,"position":3},"title":"Few takers for latest batch of flats at Hong Kong\u2019s cheapest residential project this year","date":"August 20, 2018","format":false,"excerpt":"\r Less than half the flats on offer at a residential project in Yuen Long were sold on Sunday where a few buyers forfeited huge deposits deals last week, with analysts pointing out that investors are having second thoughts amid rising mortgage rates, US-China trade war, struggling stock market and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98227,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/883-hong-kong-apartments-to-go-on-sale-this-mid-autumn-festival\/","url_meta":{"origin":20294,"position":4},"title":"883 Hong Kong apartments to go on sale this Mid-Autumn Festival","date":"September 20, 2018","format":false,"excerpt":"\r About 883 apartments will go up for sale in Hong Kong, the world\u2019s least affordable housing market, during the three-day Mid-Autumn Festival period this year. Sun Hung Kai Properties, the city\u2019s biggest developer by market value, will put 32 units at its Cullinan West II development in western Kowloon\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91956,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-developers-rush-to-sell-empty-flats-ahead-of-new-vacancy-tax\/","url_meta":{"origin":20294,"position":5},"title":"Hong Kong developers rush to sell empty flats ahead of new vacancy tax","date":"June 20, 2018","format":false,"excerpt":"\r Property developers are rushing to offload vacant flats before the government unveils details of a new tax on empty units this month. 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