The housing market cooled off in April as the large number of outbound traveling during the long Easter and Ching Ming holiday, with total residential transactions dropped 31% from a month earlier to 4,583 cases. Of these, new home sales fell 13% m-o-m to 1,550 cases, while secondary market deals slumped 38% m-o-m to 3,033 in April.
Looking ahead, enthusiasm for purchasing second-hand flats seems to have dampened by the fact that many new developments being sold at low prices and the specter of interest rate hikes….
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