Hong Kong property sales to approach 2007 level, Ming Pao says

HONG KONG: Property sales may total HK$518 billion (US$67 billion) this year, approaching the level of 2007, thanks to a weaker dollar, a massive inflow of money from China and low interest rates, Bloomberg says Dec 26 quoting a Ming Pao Daily News report.

Registered secondary residential property sales may reach HK$286 billion, the Hong Kong-based Chinese-language paper said, citing data from Centaline Property Agency Ltd. and the city’s Land Registry. Sales in 2007 totaled HK$525.6 billion, with secondary residential transactions of HK$296 billion, the report added.