Buoyed by the brisk sales of flats following the removal of Hong Kong’s property cooling measures, the city’s developers have this year launched 4,800 new units as of last week, a seven-year high.
Transactions for 2,767 new and lived-in homes were completed last month, a 22 per cent increase from October. But overall property deals are on track to end below the all-time low of 59,619 in 2022.
Easing of the cooling measures will lead to more transactions, but home prices will not see a sharp increase, Buggle Lau, Midland’s chief strategist, says.
“Location is also always a concern for buyers. So, for example, the Yau Tong project is located in the city area and is being offered at a price lower than…