Dampened by the rise in local mortgage rates, total registered residential transactions dived 13% m-o-m to 4,003 cases in May, marking the second consecutive month of decline and a 4-month low. Potential buyers with lower affordability had turned more cautious due to the home prices saw a strong comeback with about 5.6% rally in the first four months of this year.
Developers slowed down for the new launches during the month, dragging down the number of first-hand residential property transactions by a whopping 35% to 1,000, while the secondary home deals slid by…
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