Zhongyuan Property: The top ten residential estates recorded 5 transactions over the weekend, an increase of 2 transactions or 66.7% compared to last weekend.

This weekend (August 1 to 2), Centaline Property recorded five transactions across its top ten housing estates, an increase of two transactions or 66.7% compared to last weekend. Chen Yongjie, Vice Chairman and President of the Residential Department of Centaline Property Asia Pacific, stated that both days of the weekend were affected by rainy weather, causing some viewing and transaction activities to be postponed. However, the current market situation is positive, with sufficient confidence from the public to enter the market, and the market's absorption capacity remains strong. It is expected that transaction volumes will gradually increase this month. Last week, the U.S. maintained its interest rates, keeping Hong Kong's rates unchanged as well, which brought positive news to the market. However, new developments are attracting buyers, and purchasing power is focusing on these new projects, while secondary market transactions continue to adjust. The unstable weather over the weekend hindered viewings in the secondary market, leading to repeated low-level transactions. According to statistics from Midland Realty, during the first weekend of August (August 1 to 2), the top ten secondary indicator estates recorded a total of approximately five transactions, a slight increase of about 25% compared to approximately four transactions last weekend, yet maintaining single-digit numbers for nine consecutive weekends. When considering the top fifteen estates, only about six transactions were recorded, an increase of around 50% compared to about four transactions last weekend. Midland Realty Senior Director Paul Chiu stated that with Hong Kong's interest rates remaining unchanged, there is continuing demand in the property market. However, the new developments have taken a significant portion of the buyer pool and purchasing power from the secondary market. Additionally, many families are postponing their property plans due to summer travel. On the other hand, secondary market owners generally have confidence in the future market and are reluctant to sell, resulting in an ongoing adjustment in secondary transactions. Nevertheless, the market has accumulated certain purchasing power, and with several major new developments expected to be launched in the short term, it is anticipated that purchasing power will be stimulated, leading to an overall improvement in transaction activity in the Hong Kong property market in August.