As exuberance Over the Scrapping of Cooling Measures Fades, Hong Kong Property Deals See a 25% Drop.

Quick Summary:

Hong Kong’s property sales fell by a quarter in May, the latest official data shows, as analysts said the initial exuberance over the lifting of property cooling measures had started to wear off.

Sales of residential units plummeted 35.1 per cent to 5,546 in May, but were up by 38.54 per cent from a year earlier.

From a year ago, both the number and value of property transactions were still higher by about 40 per cent.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong KongChina

Topics: Hong Cent Homes Data Year Sales Units Month April Kong Property

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-04 @ 20:00:15 (3 weeks ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 545 words

Reading Time: 4 minutes read

Sentences: 15 lines

Sentence Length: 37 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21149381

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