Sales decline 19pc week-on-week

Sales of second-hand homes at 50 housing estates in Hong Kong saw a week-on-week decline of 19 per cent during the week from February 28 to March 6. According to the data compiled by property agent Ricacorp Properties, there were 273 deals at the 50 housing estates selected by the agent sold during the week. This represented 19 per cent or 63 deals lower than the 336 transactions clinched in the previous week. The agent said the decline was due to the number of new launches of primary projects that absorbed home buyers from the market.