Li Zongwen from Zhongyuan stated that Shatin Tsui Wah Garden has recorded three transactions this month. Unit 08 on a mid-floor of Block B has a usable area of 215 square feet, with a listing price of about 3.8 million HKD, decreased to 3.299 million HKD last November. Recently, after negotiation, it was sold for 2.788 million HKD, with a usable price of 12,967 HKD per square foot. The original owner purchased the unit in 2021 for about 4.02 million HKD and held it for approximately four years, resulting in a loss of 1.232 million HKD, equating to a 30.6% depreciation during the holding period.
Yu Junwen from the company stated that the continuous low-price offerings of new properties have caused second-hand transaction volumes to hover at a low level. About 40 second-hand transactions were recorded in the Tsuen Wan district this month, a decrease of about 27% compared to the same period last month. The company facilitated the sale of Unit E on a low floor of Block 2 in Tsui Fung Tower in the area, with a usable area of 440 square feet, listed at 4.8 million HKD. Recently, after negotiations with families from the same district, it was finally sold for 4.63 million HKD, with a usable price of 10,523 HKD per square foot, marking a ten-year low for the estate. The original owner bought the unit in September 2003 for 1.3239 million HKD, and even though it was sold at a low price now, he still made a profit of 3.3061 million HKD, with the unit appreciating 2.5 times over 22 years.
Today, after hitting the high near 24,000 in the early session and entering bearish positions, the index fell sharply by nearly over 600 points, immediately recouping yesterday's losses significantly.
Moreover, today it broke the new high again, reaching a maximum of 24,076, but by the end of the market, it fell back by about 70 points, producing a bearish candle. The current trend has not yet been broken, but from the previous low until now, it has risen close to 6,000 points. It is believed that those with positions can continue to hold until there is a clear trend reversal for profit-taking. Those without positions can wait for a pullback to get in. Actually, it is hoped for a quick pullback, as it allows for entry and also provides a healthy breath.
Currently, the outlook remains the same as before. It is believed that even if there is a pullback, it shouldn't be too deep. However, if Futures fail to stabilize and close below 22,350, there may still be room for decline. The chance of Futures falling below 21,400 in the short term should be low, so it is considered that if a significant pullback occurs, it presents a good opportunity to incrementally go long. Recently, there has been a consistent approach to not hold positions overnight, only focusing on immediate trades, as there is no high chasing and no casual short selling.
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