Hong Kong property sales fall to 5-month low; buyers spooked by US-China tension: agencies
Hong Kong real-estate sales fell to their lowest point in five months in February, reflecting caution among homebuyers and investors amid increasing tensions between Washington and Beijing, according to property agencies.
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Sales of homes, office units,
shops , car parking spaces and industrial spaces declined by 13 per cent to 4,295 deals from a month earlier, according to Centaline Property Agency, as their total value dropped 23.1 per cent to HK$28.24 billion (US$3.63 billion). In September, 3,843 deals were recorded with a value of HK$27.66 billion.
'This reflects the wait-and-see mood in the property market before US President Trump took office in January,' said Yeung Ming-yee, a senior associate director in the research department at Centaline. 'In addition, many citizens travelled abroad during the long Lunar New Year holiday and postponed entering the market.'
Midland Realty estimated that 4,303 units changed hands in February. Data from its website also showed that transaction value was likely HK$27.52 billion, the lowest point in a year.
If official data confirms the trend, February would be the third consecutive month in which property deals have fallen since hitting a seven-month high of 7,689 transactions and a total value of HK$64.1 billion in November.
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On Thursday, Trump said Washington would levy an additional 10 per cent in tariffs on all Chinese imports, effectively doubling the 10 per cent that was implemented on February 4.
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