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Consumers looking to own second property

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As the economic recovery continues, one of the hot items on the Hong Kong shopping list is a second property, according to a consumer study.

In the 12 months to June, 16.9 per cent of flat owners splashed out on an additional property, research house Synovate found in the survey released yesterday.

This compares with 15.2 per cent for the 12 months to March, 16 per cent for the year to December and 15.5 per cent for the same period last year.

'Investor confidence in the property market is creeping up quarter on quarter,' Synovate media research director Steve Garton said.

'In just the last few months, our constantly updated tracking has enabled us to watch Hong Kong's increased confidence translate into higher product ownership, increasing purchase intentions and improving lifestyle,' he said.

Among 17,554 respondents to the survey across Asia were 1,710 from Hong Kong, with an average monthly income of HK$20,000 or household earnings of $40,000.

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