This comes after Hong Kong authorities scrapped property curbs in late February to revive the sector. Developers are counting on the pickup in sales to reduce excess inventories that are keeping a lid on prices.
Hong Kong’s new home transactions hit an 11-year high in March, an encouraging sign for the beaten-down property market after the government lifted cooling measures.
There were about 4,170 sales in the period, more than 14 times the figures from the prior month, according to a report from the Hong Kong Economic Journal.
