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Prices poised for further drop in secondary market amid weak sentiment

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Lacklustre housing sales in Hong Kong followed the US Federal Reserve's decision to keep interest rates unchanged. Photo: AP

Home sales in Hong Kong's secondary market remained slow at the weekend, with some owners opting to reduce prices to attract buyers, according to property agents.

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Property agent Midland Realty recorded five transactions at 10 selected housing estates during the weekend of September 19 and 20, the lowest in 28 weekend sales results.

Among the 10 housing estates, seven reported no transactions.

The lacklustre sales follows the US Federal Reserve's decision to keep interest rates unchanged.

"Buyers continue to adopt a wait-and-see attitude, speculating when the US Fed will increase interest rates," said Sammy Po, the chief executive of Midland Realty's residential department.

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Some buyers opted for new flats, taking advantage of attractive financing options provided by developers.

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