Hong Kong's 10 major housing estates recorded zero transactions over the four-day holiday

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A Hong Kong media report (The Standard):

  • The 10 major housing estates recorded zero transactions over the four-day holiday in a first since 2005, when the property market was roiled by the SARS outbreak
  • Among those reporting the downturn was Centaline Property at its 10 blue-chip estates over the past weekend, compared to four cases the previous weekend and marking a new low after September 2018.
  • People are adopting a wait-and-see attitude ahead of the budget announcement on February 28, when “spicy home measures,” introduced to cool the property market, are widely expected to be scrapped.

While this is Hong Kong, and not mainland China it is indicative of a property sector that continues to languish.

This article was written by Eamonn Sheridan at www.forexlive.com.

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