Hong Kong home sales rise to 15-month high as demand improves

[HONG KONG] Hong Kong home sales rose to the highest level in at least 15 months in September, government figures released Tuesday show.

The number of homes sold reached 7,826 with a value of HK$56 billion (S$9.82 billion), according to figures on the Hong Kong Land Registry's website. That's up from the 5,821 units that changed hands in August, with a value of HK$40.6 billion.

Demand from buyers has slowly recovered since home sales fell to a 25-year low in February, spurred by aggressive discounts offered by Hong Kong developers.

They are also providing mortgages worth as much as 120 per cent of a property's value.

BLOOMBERG