Hong Kong developers to sell more flats as buyers return amid tax relief, stock rally

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Hong Kong developers to sell more flats as buyers return amid tax relief, stock rally - SCMP

Quick Summary:

China Vanke and Sun Hung Kai Properties will put more units on the market after the city recorded its best weekend in four months for new home sales.

A sharp rally in Hong Kong’s US$5.9 trillion stock market has helped restore some equity wealth, helping buyers sidestep concerns about the interest-rate outlook and US-China trade tensions.“More than 70 per cent of the [Le Mont] project consists of small and medium-sized flats, and the overall economic environment has gradually recovered,” said Quincy Chow Ming-hei, managing director at Vanke Hong Kong, a local unit of the mainland-based developer.“The property market will be steady in the future.

Henderson Land Development, Wang On Properties and Kerry Properties are also coming back to the market this week.