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Hong Kong home sales spike as locals jump in to buy

Posted on 05 February 2013

Residential rally expected to continue but secondary market could slow as developers step up marketing of new home projects. Home sales rebounded sharply last month, driven by local buyers unaffected by the government’s new stamp duty provisions targeting overseas and corporate investors.
Fuelled by excess liquidity and low interest rates, agents say the sales momentum will extend to next month as residential transactions continue to grow. The number of residential transactions jumped 65.2 per cent to 5,430 from December, while the total value of deals surged 66.3 per cent to HK$28.5 billon, data released by the Land Registry on Monday showed…………………………………..Full Article: Source


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