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Hong Kong’s total property sales surged to US$10.6 billion in April, highest in 23 months, Centaline predicts
- Total sales, including homes, shops, industrial units and parking spaces, hit their highest monthly level in almost two years as buyers bet on the local economy bouncing back from recession
- Used homes fared much better than new units, with an estimated 5,800 flats changing hands for HK$50 billion
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Hong Kong’s total property sales, including homes, shops, industrial units and parking spaces, may have soared to their highest monthly level in almost two years as buyers bet on the local economy bouncing back from recession amid a decline in coronavirus cases.
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The number of property transactions in April climbed to 9,100 deals with a total value of HK$82.5 billion (US$10.6 billion), according to an estimate by Centaline Property Agency on Sunday.
Official data from the Land Registry will be released in the next few days.
Centaline’s forecast represents a 0.4 per cent rise in the number of deals from March’s 9,067 deals, and a 5.7 per cent increase in value from HK$78 billion.
“Both sales volume and value will be the highest since May 2019,” said Wong Leung-sing, senior associate director of research at Centaline. That month saw 10,353 deals with a total transaction value of HK$90.3 billion.
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In the residential market, Wong said sales of second-hand homes had outperformed those of new units.
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