Hong Kong’s home sales uptick is expected to struggle with momentum due to the city’s weak economic outlook and elevated interest rates.
The number of new home transactions in the seven days after Chief Executive John Lee’s policy address rose 20% compared with the same period earlier, according to data from broker Midland Realty. This comes amid several major launches, such as Sun Hung Kai Properties Ltd.’s new project in Kai Tak. Prices of second-hand transactions rose 0.5% in the week of the policy address, according to Centaline data.
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