Hong Kong Home Sales Rise to 15-Month High as Demand Improves

  • 7,826 units sold in September compared with 5,821 in August
  • Value of sales increase to HK$56b from August’s HK$40.6b

Residential buildings stand in the Choi Hung, front, and the Tseung Kwan O district, back, of Hong Kong.

Photographer: Justin Chin/Bloomberg

Hong Kong home sales rose to the highest level in at least 15 months in September, government figures released Tuesday show.

The number of homes sold reached 7,826 with a value of HK$56 billion ($7.2 billion), according to figures on the Hong Kong Land Registry’s website. That’s up from the 5,821 units that changed hands in August, with a value of HK$40.6 billion.

Demand from buyers has slowly recovered since home sales fell to a 25-year low in February, spurred by aggressive discounts offered by Hong Kong developers. They are also providing mortgages worth as much as 120 percent of a property’s value.

Before it's here, it's on the Bloomberg Terminal.