In February, only 2,375 transactions were registered for both primary and secondary markets, representing a 32% monthly decrease and reaching to a 4-month low. The market was dampened by the Lunar New Year – a traditional off-season and the wait-and-see attitude towards the 2024-25 Budget speech.
Of these, only 367 cases were specifically for the first-hand residential market in February, indicating a 63% decrease from a month earlier. The significant decline in transactions was due to developers postponing the sale of new projects.
Hong Kong’s private home prices fell for the 10th month in a row last month to the lowest level in nearly seven-and-a-half years since September 2016…..
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