In January, the secondary market saw 419 loss-making transactions, the highest since March 2023, including one transaction that lost HK$9.62 million (US$1.2 million).
Prices of lived-in homes in Hong Kong fell for the first time since December, as buyers retreated to the sidelines amid worries over further interest rate increases and oversupply.
The home price index rose 1.35 per cent in March to 351.4, the highest since 360.3 in September, official data showed. The gains for the year now stand at about 5 per cent.
Home prices in Hong Kong fell by the most in 24 years in 2022, but the housing market is likely to stabilise this year amid improving stock market and economic sentiment, according to analysts.
The law contains provisions aimed at preventing vulnerable tenants being taken advantage of, but ‘not much has changed’ since it went into effect, advocates say.