The residential real estate market in Hong Kong has made a dramatic increase in recent weeks as both sales have been up and the number of homes on the market has dropped. The surge in activity in has been due to low mortgage rates and the easing of visa rules, according to analysts.
The weekly number of sales in Honk Kong hit a 62-week high in early April, and the activity in the first weekend of the month showed great promise. Over that weekend, transactions in the housing market were up 35 percent according to Midland Realty.
The increase in traffic has led to increased confidence on the part of developers, as they are released more new projects. The volume of new flats in March was 923, compared to 756 in February and just 268 in January.
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