Despite no new large-scale primary launches over the weekend, both primary and secondary property transactions remained vibrant. Market sources report approximately 197 primary transactions over the two days, a 93% weekly increase, marking a multi-month high. Among them, the spotlight was on KT Marina, a development by K Wah, Wheelock, and China Overseas. The project sold around 74 units over the weekend, representing 68.5% of the units launched. Notably, a bulk buyer spent over HK$54 million to purchase 10 units.
In the secondary market, transactions across the top ten housing estates showed positive growth, with all four major agencies reporting weekly increases. This reflects a steadily improving market sentiment and growing buyer confidence. Industry experts believe factors such as the interest rate cut cycle and competitive pricing of new projects at secondary market levels have been key drivers of activity.
Primary Sales Hit Four-Month High
The primary market recorded 197 transactions over Saturday and Sunday, a 93% increase compared to 102 units the previous weekend, hitting a four-month high. Analysts note that recent new project pricing, which closely aligns with secondary market levels, combined with the "cheaper to own than rent" effect, has driven a surge in purchases by both end-users and investors.
As of yesterday, the first half of the month has seen approximately 920 primary transactions, a 20% increase compared to around 755 in the same period last month. Analysts believe the improving market sentiment, coupled with the expectation of a continued interest rate cut cycle and a better lending environment, has boosted buying interest. With several projects still set to launch this month, such as Cullinan Sky Phase 2 and One Park Place, the total monthly primary transactions are expected to surpass 1,000 units, setting a new multi-month high and reinforcing the positive short-term outlook for the property market.
KT Marina Sells 74 Units Over the Weekend, 68.5% of Total Units
KT Marina launched a new round of sales over the weekend, offering 108 units, including 30 via tender and 78 on the price list. Market sources indicate that approximately 74 units were sold over two days, representing 68.5% of the total units launched. Notably, the project attracted four bulk buyers, with the largest spending over HK$54 million to acquire 10 one-bedroom units in Block 2C, all G units with a usable area of 306 square feet each.
Additionally, on Sunday, another buyer spent approximately HK$11.23 million to purchase two mid- to high-floor units (G and H) in Block 2C, with usable areas of 306 and 305 square feet, respectively, at an average price of around HK$18,400 per square foot. Including Saturday’s sales, the project sold a total of 74 units over the weekend.
Slow Sales at Gold Coast Bay The Reserve, Selling Only 11% of Units
Gold Coast Bay The Reserve, a large-scale seaside residential project in Tuen Mun by Early Light International, sold just 17 units over the weekend—only 11% of the 152 units launched. The sales included 15 two-bedroom and 2 three-bedroom units, with prices ranging from HK$4.71 million to HK$13.68 million, generating over HK$110 million in revenue.
One notable transaction was Unit A on the 21st floor of Block 1A, a three-bedroom unit with a utility room and maid’s quarters, spanning 861 square feet. It sold for HK$13.68 million, translating to HK$15,884 per square foot. Another notable unit, Unit C on the 17th floor of Block 1A, also three bedrooms with a storage room, sold for HK$11.79 million at HK$14,665 per square foot. Combined with nine two-bedroom units sold on Saturday, the total daily revenue approached HK$100 million. Sunday saw sales of three more two-bedroom units, adding HK$15.77 million to the total.
The developer launched 152 units on Saturday, 56 via tender and 96 through a first-come-first-served price list. The units, priced between HK$5.48 million and HK$9.74 million (pre-discount), were offered with a 12% discount, bringing the effective prices down to HK$4.71 million–HK$8.57 million, or HK$10,431–HK$15,312 per square foot. The average discounted price was approximately HK$12,972 per square foot.
Since its launch, the Gold Coast Bay development has sold 1,028 units, generating over HK$4 billion in revenue.
Strong Sales at Nexus Grand and Grand Seasons
Nexus Grand by Grand Ming Group in Fanling North sold all 30 units with parking spaces via tender on Saturday, generating HK$108.6 million. Prices ranged from HK$3 million to HK$5.19 million, with an average price of HK$12,376 per square foot. Two large-scale transactions included one buyer purchasing five units (HK$18.68 million) and another buying four units (HK$13.9 million), totaling HK$32.57 million.
Meanwhile, Grand Seasons in Tseung Kwan O by Wheelock Properties recorded six sales on Saturday, generating HK$37.52 million. These included one- and two-bedroom units priced between HK$5.07 million and HK$7.05 million, with the highest price per square foot reaching HK$15,558 for a 453-square-foot unit.
Secondary Market Sees Uptick in Transactions
The weekend saw strong performance in the secondary market, with major agencies reporting higher transaction volumes. Centaline and Midland recorded 16 and 17 deals, respectively, showing a 60–70% week-on-week increase. Ricacorp reported 13 deals (+44%), while Hong Kong Property also saw slight improvements.
With two rate cuts in the past year and easing US-China tensions, market sentiment has improved significantly. Hong Kong Property, noted that the "cheaper to own than rent" phenomenon, combined with stabilising property prices, has boosted buyer confidence. Many unsuccessful buyers from new projects have turned to the secondary market, driving up transactions.
In notable transactions, a mid-floor unit in South Horizons’ Block 10, spanning 869 square feet (three bedrooms with an ensuite), sold for HK$14 million (HK$16,110 per square foot). The original owner purchased it for HK$9.45 million in 2010, making a profit of HK$4.55 million—a 48.1% appreciation over 15 years.
Meanwhile, five transactions were recorded at Tin Shui Wai’s Kingswood Villas over the weekend, reflecting strong buyer confidence. A low-floor unit in Block 14 of Kenswood Court (550 square feet, three bedrooms) originally listed at HK$4.7 million, sold for HK$4.53 million (HK$8,236 per square foot). The original owner purchased it for HK$2.14 million in 2012, earning a profit of HK$2.39 million—a 111% increase.
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