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Bloomberg
Hong Kong Chief Executive Carrie Lam’s plan to relax mortgage rules for first-time buyers appears to have already spurred sentiment, with the city recording its best weekend for home sales since April.
The 10 biggest housing estates tracked by Centaline Property Agency Ltd recorded 20 sales, more than three times the weekend before. That’s despite violent protests that have rocked the former British colony now since June.
Separately, Sing Tao reported that China Evergrande Group’s Emerald Bay project in Tuen Mun received 1,100 applications, more than double the number of apartments available.
The government’s decision to allow first-time buyers to purchase more expensive homes with a downpayment of just 10% has boosted transactions, said Louis Chan, the CEO of Centaline’s residential division.