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HK home deals dip
Source: Bloomberg News |
June 3, 2011, Friday
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Print Edition
Print Edition
THE number of home transactions in Hong Kong fell for a fifth straight month in May as rising mortgage rates continue to dent buying sentiment.
The number of units that changed hands last month fell 12 percent from a year earlier to 9,681, according to a statement on the Land Registry website yesterday. The value of transactions rose 15 percent from a year earlier to HK$49.5 billion (US$6.4 billion), according to the release.
Rising mortgage rates from record lows in the city, where Savills Plc says is the world's most expensive place to buy an apartment, are underscoring concerns that the nearly 70 percent surge in home prices since the start of 2009 may not be sustainable.
The number of units that changed hands last month fell 12 percent from a year earlier to 9,681, according to a statement on the Land Registry website yesterday. The value of transactions rose 15 percent from a year earlier to HK$49.5 billion (US$6.4 billion), according to the release.
Rising mortgage rates from record lows in the city, where Savills Plc says is the world's most expensive place to buy an apartment, are underscoring concerns that the nearly 70 percent surge in home prices since the start of 2009 may not be sustainable.
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