Sales transactions rise 43% month-on-month in April 2014

15 May 2014 - Both residential and commercial property sectors  saw an uptick in purchasers during the month of April. Statistics released by The Land Registry indicate a total of 6,012 transactions (79% residential) were closed. This compares favourably with 4,184 transactions in March and 4,387 transactions during the same period last year. It also marks the fastest rate of change in the number of S&P Agreements since October 2012.

On the residential side, this was partially a result of discounts offered by developers in the primary market as well as price cuts offered by landlords of secondary units in response. The South China Morning Post reported the sale of more than 100 homes in new developments ‘Woodside’ and ‘Mount One’ and a further sale of 42 apartments in the secondary market during the four day Easter break alone. Positive market sentiment also appears to have spilled over to commercial properties.