Still crazy over property in HK

09:41, July 07, 2010      

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A general view of buildings in downtown Hong Kong. Property transactions totaled 77,262 in Hong Kong in the first half of this year, up 31.3 percent from 58,826 a year earlier and 2.8 percent from 75,136 in the second half of last year, the city's Land Registry said Tuesday. In terms of value, first-half property transactions totaled HK$311.01 billion (US$40 billion), up 51.2 percent from HK$205.65 billion a year earlier and 0.3 percent from HK$310.05 billion in the second half of 2009. Average home prices rose about 8 percent in the first half, extending a gain of nearly 30 percent in 2009. The low interest rate environment and widespread buying of property as a means of hedging against potential inflation have continued to drive home sales. (Photo source:


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