Hong Kong Weekly Home Sales Summary:the week ending Dec 18

Highlights:

Primary home sales remained at a low level in the week ending Dec 18.

We estimate 135 new homes were sold in the week, down by 16% compared tolast week’s 161 units and 46% lower than the 3-month avg. of 251 units.

Key contributors were Hang Lung Prop’s The Long Beach in Tai Kok Tsui (sold 64units), SHKP’s Lime Gala in Shau Kei Wan (sold 9 units) and Wheelock Properties’NAPA Tuen Mun (sold 9 units).

Secondary market transactions decreased wow. According to Centaline, 5transactions were recorded in the top-10 housing estates over the weekend, vs.

9 in the previous week.

Secondary market price was +0.18% wow as of the week ending Dec 11. Ytdprice is up 6.8%, or 1.2% below Sep 2015’s peak level.

Major potential new launches in the pipeline: CKP’s Crescendo in Yuen Long (67units), Ocean Pride in MTR Tsuen Wan West Station Bayside Phase I (970 units),Seanorama in Ma On Shan (454 units), Borrett Road luxury project in Mid-levels(115 units), 90 Repulse Bay Road project (11 units) and Oil Street project in NorthPoint (378 units), SHKP’s Grand YOHO Phase II in Tuen Mun (826 units), EightRegency in Tuen Mun (321 units), Victoria Harbour in North Point (386 units) and23 Babington Path in Mid-Levels (100 units); Henderson Land’s Eden Manor inCastle Peak Road (590 units) and High Park Grand in Mong Kok (321 units);NWD’s Fleur Pavilia in North Point (611 units), Mount Pavilia in Sai Kung (680units), The Pavilia Bay in Tsuen Wan (983 units), Artisan House in Sai Ying Pun(250 units) and Park Villa in Yuen Long (51 units); Chinachem Group’s Cityside inTsuen Wan (953 units); K Wah’s K. City in Kai Tak (900 units); Wheelock Prop’sO’South in Tseung Kwan O (926 units) and 10 Muk Ning Street in Kai Tak (648units); COLI’s One Kai Tak Phase II (624 units).