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Hong Kong Real Estate Market Recovers
6,654 real estate transactions valued at HK$15.29 billion were registered with the Hong Kong Land Registration Office July 27, up 59% and 66.9% from the same period last month respectively.
As the economy recovers, the pace of the recovery in Hong Kong's real estate market has also speeded up. Because the purchasing power in real estate market has been stored up for a long time, the time is ripe to unleash the flows of capital and develop high rises. Real estate firms have also strengthened their ability to resist fluctuations in the market.
The upward momentum of the mainland's real estate market is also propelling Hong Kong's real estate market. Unlike the past, this time's recovery is spurred by people wanting to buy homes instead of speculation.
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