Property News · January 4, 2017

Home sales in Hong Kong’s secondary market drop to 21-year low in 2016


Home sales in Hong Kong’s secondary market plunged to a 21-year low in 2016 as government cooling measures dampened demand, while a buying frenzy in the primary market pushed the value of new home sales to the highest level since 1995.
The extraordinary divergence between primary and secondary home sales emerged in data from the Land Registry released on Wednesday, which showed sales of second-hand homes dropped one per cent to 40,466 deals.
“It is the lowest since our firm started…

Source : South China Morning Post
Read more…Home sales in Hong Kong’s secondary market drop to 21-year low in 2016