As the Christmas holiday approaches, there were no major new projects on the market last Saturday, but individual new flats continued to see transactions. However, the market's attitude towards entering is relatively cautious. Although the top ten housing estates recorded stable double-digit transactions over the past weekend, there was a decline when accounting for the week.

Shanghai New World (00014.HK) and Far East (00035.HK) collaborated on the development of the "Barkley" series in the Kai Tak runway area, which sold five units over the weekend, realizing over 30 million yuan. Among these, Unit E on the 2nd floor of Block 6 of FOREST MANSION, with an area of 380 square feet, was sold for 7.683 million yuan, at a price of 20,218 yuan per square foot. Since its launch, the project has sold a total of 506 units, realizing over 3.43 billion yuan, with many large investors and foreign buyers entering the market.

Under the Hongqiao International (00129.HK), the "Hui Du" project in Hung Shui Kiu sold a total of 14 units over three days last Friday to Sunday, which included one unit from the first phase and 13 units from the second phase, with a total transaction amount approaching 70 million yuan. The project has cumulative sales of 549 units, with a transaction amount of about 2.7 billion yuan, and currently, all the three-bedroom units available for sale in the entire project as well as the two units in phase one have already been sold out.

In the secondary market, Centaline Property's top ten housing estates recorded 12 transactions over the past weekend, a drop of about 20% week-on-week. Among them, the number of estates with zero transactions increased to five, including Taikoo Shing and Ocean Park on Hong Kong Island, Whampoa Garden and The Metropolis in Kowloon, and Ying Wai Garden in the New Territories.

The President of Centaline Property's Residential Department, Chan Wing Kit, stated that as December approaches, the atmosphere of Christmas celebrations is becoming more pronounced. Some buyers have postponed their market entry plans, preparing to travel and celebrate the holiday. Additionally, some investors are cautious about the upcoming US interest rate decision this week. If owners provide reasonable negotiation space, quality listings may still find takers, and it is expected that secondary market transactions will develop steadily this month.

According to statistics from Midland Realty branch, there were approximately 12 transactions in the top ten housing estates over the past weekend. Although this represents a 20% drop from the 15 transactions last week, it has remained stable at double-digit levels for three consecutive weeks, and the number of transactions is the second highest in six weeks. As for the fifteen largest housing estates, there were 14 transactions, a week-on-week decrease of about 17.6%.

Midland Realty's Residential Department CEO, Paul Lau, stated that as the year comes to an end, bullish news beneficial to the local property market has re-emerged. The central government has indicated a "moderately loose monetary policy" showing determination to stimulate the economy, coupled with market expectations that the USA will reduce interest rates again, leading to an influx of buying power. There have been numerous reports of "large buyers" engaging in acquisitions, and with no major new projects released over the past weekend, this should have helped to boost secondary market transactions. However, the digestion of discounted listings and bullish news have also led some owners to adopt tougher pricing strategies. Additionally, with the Christmas holiday approaching, some optimistic owners have turned more cautious, resulting in a tug-of-war in secondary market transactions, leading to a decrease in weekend transactions. Lau believes that as bullish news continues to emerge, it will attract considerable buying power into the property market looking for opportunities. Since the new project market tends to quiet down at the end of the year, it is expected that the fill price transaction volume in the secondary market will stabilize in December.