Sun Hung Kai Properties’ Novo Land development in Tuen Mun. Photo: Xiaomei Chen
Sun Hung Kai Properties’ Novo Land development in Tuen Mun. Photo: Xiaomei Chen

Hong Kong developers exercise caution in pricing new projects after housing transactions fall for second month amid rising interest rates

  • Land Registry says the total value of housing transactions dropped by 25 per cent in July, while the total number of deals declined by 23.9 per cent
  • The drop reflects home-buying sentiment, which has been hurt by US interest rates rising fast and sharply, Centaline executive says

Sun Hung Kai Properties’ Novo Land development in Tuen Mun. Photo: Xiaomei Chen
Sun Hung Kai Properties’ Novo Land development in Tuen Mun. Photo: Xiaomei Chen
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