BIZCHINA / Biz Media Digest |
Construction: Hong Kong home sales rise(Shanghai Daily)Updated: 2006-12-05 15:34 Hong Kong's home sales rose 0.3 percent in value in November from a year earlier, after falling 39 percent the previous month, according to the city's Land Registry. The HK$19.5 billion (US$2.5 billion) in sale value was 7.2 percent higher than in October. The number of units changing hands was 7,106, 13 percent more than in November 2005 and up 12 percent from October 2006. A mortgage battle among Hong Kong banks, a rise in consumer confidence and a shortage of new apartments may send residential prices soaring more than 50 percent by the end of 2007, according to UBS AG analyst Eric Wong. Hong Kong's October home sales fell to HK$18.2 billion from an 11-month high of HK$29 billion in September. (For more biz stories, please visit Industry Updates) |
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