HK home prices seen firm as volume drops amid protests

Hong Kong

HONG KONG's existing home transactions dropped amid pro-democracy protests now in the third week. Prices are holding firm.

The number of homes changing hands fell about 20 per cent so far this month, compared with the same period in September, as buyers and sellers become more cautious, according to Sammy Po, residential chief executive at realtor Midland Holdings Ltd. While some homeowners have been more willing to accept prices cuts of as much as 3 per cent since the protests began, most haven't budged, Mr Po said.