Secondary home deals up

Source: The Standard, Oct 11 2016

The volume of transactions in the secondary housing market surged over the weekend from the previous weekend as endusers and investors showed more confidence in the sector’s prospects, analysts said yesterday.

Sammy Po Siu-ming, residential chief executive at Midland Realty, said 24 deals were transacted on Saturday and Sunday at 10 major housing estates that Midland tracks, more than double from just 11 transactions in the previous weekend.

Another sale and purchase agreement was struck yesterday, bringing the total over the holiday weekend to 25. “As the low interest rate environment is expected to continue for some time, many buyers took advantage of the long weekend to buy flats,” said Po. Centaline Property also recorded 23 transactions over the weekend, a substantial increase from 14 in the previous weekend.

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