HK buyers see bounce in mainland real estate
(Shanghai Daily)Updated: 2007-01-05 15:41 Hong Kong investor interest in the mainland property market may recover this year after a string of government regulations worked to curb ballooning housing prices, an industry report said.
The number of deals signed by Hong Kong buyers for new homes on the mainland is expected to rise 11 percent from a year earlier to 19,230, after falling two percent in 2006, according a report released on Wednesday by Centaline China, a Hong Kong-based real estate firm.
Transaction volume may climb 12.5 percent year on year to 13.5 billion yuan (US$1.73 billion), after jumping 14 percent a year earlier.
"Hong Kong buyers are optimistic about the mainland property market in the long run," the report said, implying that future increases could be even higher.
"But many are cautious about buying houses here this year, betting prices may cool off in the short term led by new rules to rein in the red-hot sector."
A total 17,400 mainland deals were concluded by Hong Kong buyers in 2006.
More than 310 mainland projects were marketed in Hong Kong last year, posting 12
percent growth compared with 22 percent for 2005.
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