Transactions in second-hand market on rise

Sales of second-hand homes at 50 housing estates in Hong Kong last week rose modestly compared with the prior week as buying sentiment rebounded, according to data compiled by Ricacorp Properties. Some 375 flats sold during the week from December 13 to 19, up 9 per cent from the 344 sold a week earlier. Ricacorp said transaction levels had recovered in the past three weeks. The level of 375 is just 6 per cent below the 399 sales in the week before the government announced new measures to rein in the market on November 19, according to the agent.