Hong Kong Weekend Home Transactions Jump to Three-Year High
- Developer shares rise as demand rebounds after curbs removed
- High interest rates, ample supply may still hurt prices
Hong Kong’s new-home sales surged 10 times in the first five days after the government removed the cooling measures compared with two months ago.
Photographer: Lam Yik/BloombergThis article is for subscribers only.
Hong Kong’s 10 biggest residential estates saw transactions rise to the highest in three years last weekend, according to Centaline Property Agency Ltd., as the market continued to benefit from recent easing steps.
A total of 37 apartments changed hands on the weekend, up 48% from a week earlier. Hong Kong property buyers have been rushing to snap up homes after the government removed extra property levies last month to boost the market.