A total of 5,291 residential deals were completed in August, the sixth month they have stayed above the 5,000 mark, official data showed
Hong Kong’s home sales remained above the 5,000 level for the sixth consecutive month in August, further strengthening the view that the city’s residential property market may have bottomed out.
A total of 5,291 homes were transacted last month, according to data from the Land Registry on Tuesday, continuing a run above 5,000 that started in March. While the volume fell 8.2 per cent compared with 5,766 in July, it was nearly 45 per cent higher than a year ago.
In the first eight months of the year, sales of new and lived-in homes rose 10 per cent from a year earlier to 42,379 – the most for that period in four years, according to data compiled by Midland Realty.
“This year the property market has benefited from multiple favourable factors that have collectively improved market sentiment and driven transactions,” said Benny Sham, an analyst at Midland Realty.
