Primary housing sales crashed 62% to just 77 units

Most of it were in West Kowloon.

Barclays reported that according to the Hong Kong Economic Journal, given no new launches, primary housing sales fell 62% w/w to 77 transactions over the past weekend. 

Most of the units sold were in the West Kowloon area for projects such as HLP’s Long Beach and NWD/Wheelock’s The Austin.

Here's more from Barclays:

At the Austin, the 17 units sold this weekend have now taken total sales to 575 units and estimated proceeds of HK$9.9bn.

As for the Long Beach, HLP sold 39 of the 60 units on offer over the weekend. This now takes cumulative sales since the re-launch to 225 units and HK$1.9bn.

On Hong Kong Island, the take-up for the first 50 units at SHKP’s Imperial Kennedy (161 units) in Western District was relatively slow with only 27 units sold since the sales launch one week ago.

Over the weekend, SHKP released three new price lists comprising 56 units with an average price of HK$19,095psf.

Compared with the first 50 units’ average price of HK$29,988psf, the headline price was cut by as much as 36%.