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Hong Kong Home August Sales Hit 14-Month High as Mood Lifts | Tony Seruga
Sep
04

Hong Kong Home August Sales Hit 14-Month High as Mood Lifts

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  • 5,821 units sold in month compared with 4,243 in July
  • Sales value of HK$40.6 billion vs July’s HK$29.7 billion

Hong Kong home sales rose to the highest level in at least 14 months as property developers sold more new units and sentiment improved in response to stabilizing prices.

The number of home sales reached 5,821 in August, with a value of HK$40.6 billion ($5.2 billion), according to a release on the Hong Kong Land Registry’s website on Friday. That’s up from 4,243 units changing hands in July, with a value of HK$29.7 billion.

Demand from buyers has slowly recovered since home sales fell to a 25-year low of 1,807 units in February, spurred by aggressive discounts of up to 18 percent offered by Hong Kong developers. They are also providing mortgages worth as much as 120 percent of a property’s value…

Hong Kong Home August Sales Hit 14-Month High as Mood Lifts

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