Hong Kong property sales fall to 5-month low; buyers spooked by US-China tension: agencies
Hong Kong property sales plummeted to a five-month low in February, signaling a cautious approach from both homebuyers and investors. According to Centaline Property Agency, total property transactions, including homes, offices, and commercial spaces, decreased by 13% to 4,295 deals, with the total value dropping by 23.1% to HK$28.24 billion (US$3.63 billion). This decline follows a seven-month high in November, marking the third consecutive month of falling property deals.
Analysts attribute this downturn to a "wait-and-see" attitude prevailing in the market before the US presidential inauguration in January, coupled with the impact of the Lunar New Year holiday, which saw many residents traveling abroad. The increasing tensions between Washington and Beijing, highlighted by the potential doubling of tariffs on Chinese imports, further contributed to the dampened market sentiment and investor hesitancy.
via SCMP Full Text Feed
Hong Kong property sales plummeted to a five-month low in February, signaling a cautious approach from both homebuyers and investors. According to Centaline Property Agency, total property transactions, including homes, offices, and commercial spaces, decreased by 13% to 4,295 deals, with the total value dropping by 23.1% to HK$28.24 billion (US$3.63 billion). This decline follows a seven-month high in November, marking the third consecutive month of falling property deals.
Analysts attribute this downturn to a "wait-and-see" attitude prevailing in the market before the US presidential inauguration in January, coupled with the impact of the Lunar New Year holiday, which saw many residents traveling abroad. The increasing tensions between Washington and Beijing, highlighted by the potential doubling of tariffs on Chinese imports, further contributed to the dampened market sentiment and investor hesitancy.
via SCMP Full Text Feed
