Post-Stimulus Home Sales Surge in Hong Kong Amid Lower Financing Costs
Over the weekend, an impressive surge in post-stimulus home sales was observed in Hong Kong, signaling a positive shift in buying sentiment. Analysts attribute this trend to higher loan financing and cheaper borrowing costs, encouraging prospective buyers to make a move.
Notable developers like CK Asset Holdings, MTR Corp, and Sun Hung Kai Properties reported significant sales at their respective projects, with transactions exceeding expectations. Even previously-launched developments such as Koko Mare and Belgravia Place witnessed brisk business, indicating a strong demand for new residential units.
The recent cuts in prime lending rates by local banks, accompanied by the government’s relaxation of mortgage rules, have further fueled the real estate market’s recovery. Experts believe that these measures will have a gradual yet substantial impact on market dynamics, emphasizing the need for continued support to boost the economy.
Buggle Lau Ka-fai, chief analyst at Midland Realty, emphasized the potential for additional government measures to stabilize the market if necessary, highlighting the importance of a holistic approach to revive the real estate sector.