Sharjah24 - Reuters: Hong Kong private home prices rose 0.46% in July, official data showed on Friday, just short of a record high, supported by strong pent-up demand and hopes that mainland Chinese buyers will soon return.
The prices in one of the most expensive property markets gained for the seventh month in a row, according to last month's data, and compared with a revised 0.1% increase in June.
Realtors expect the price index, which stood at 396.3 in July, will break the 396.9 record posted in May 2019 in the third quarter.
"A high turnover in the market is positive for buyers' sentiment," said Thomas Lam, executive director of Knight Frank. "The buying power can persist into end of year."
According to an index of realtor Centaline that tracks the secondary home market, prices broke a historical high in early August, before softening 0.5% in the following week.
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