Property sales in Hong Kong are expected to have risen 6 per cent last year, with the total value of deals climbing to a two-year high thanks to rapid growth in home prices.
Patrick Chow, head of research at Ricacorp Properties, predicted total property transactions, including homes, offices and car-parking spaces, amounted to 115,504 in 2012, up 6.14 per cent from the 108,814 deals conducted in 2011.
The agency forecast total transaction value for 2012 will show a 10.56 per cent year-on-year increase to HK$650 billion. In 2010, the total property transaction value reached HK$689.48 billion.
However, last month total transactions are forecast to have plunged 22 per cent to 9,000 deals, from 11,581 in November, he said.
The Land Registry has yet to release figures for December.
"It was like a roller-coaster ride for the property sector," he said.
