Hong Kong property deals slump to 7-month low, but things are looking up for October

Quick Summary:

Sales of new and lived-in homes, offices, shops, car parks and industrial spaces dropped 18.7 per cent to 3,843 units in September.

For example, on a HK$5 million loan over 30 years priced at prime minus 1.75 per cent, a reduction lowers the mortgage rate to 3.875 per cent, meaning the monthly payment drops by HK$720 to HK$23,512, according to mReferral, a local mortgage broker.

It is the lowest tally since February, when restrictions on property buying were still in place.

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Article Details

Author / Journalist: Cheryl Arcibal

Category: Business

Markets: Hong Kong

Topics: Fell Hong Rate Homes Cent Lived-in September Kong Property Sales Offices

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-03 @ 18:24:08 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 352 words

Reading Time: 2 minutes read

Sentences: 11 lines

Sentence Length: 32 words per sentence (average)

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

Copyright Owner: © SCMP

News ID: 22862768

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