The residential property transactions relieved in August, ending a 4-month falling streak as homeowners lured buyers with steep discounts. A total of 3,247 cases was recorded in August, representing a 6% m-o-m increase, but market sentiment still pessimistic.
The adjustment of loan-to-value (LTV) ratio for properties announced in July did little to stimulate home buying against a backdrop of rising mortgage rates and gloomy economic outlook. Homeowners have been slashing price to offload their property, dragging the private home prices down 1.4% m-o-m in August to the lowest level in seven months. The index declined for a fourth straight month…..
Please click HERE to download the report.