Hong Kong property deals hit three-year high in April
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REAL estate transactions registered in Hong Kong nearly doubled in April, hitting a three-year high, just months after the government took steps to revive the market.
The number of deals surged to 9,880, up 97 per cent from March, to the highest level since July 2021, according to data released by the Land Registry on Friday (May 3). They included new and used homes, commercial units, parking slots and other non-residential units.
The deals point towards signs of recovery in the Asian financial hub’s depressed property market after authorities removed property curbs in late February.
Major developers recently kicked off sales of new projects at big discounts and released more inventory, fueling activity.
On the residential front, existing home registrations reached a thirteen-month high of 5,352, roughly doubling the March figure of 2,701. BLOOMBERG
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