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HK August property deals drop by 40% year-on-year after gov't restrictions

08-03-2011 17:34 BJT

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Good news for the property market in Hong Kong. Closing deals are slowing, which is cooling the over-heating housing market. The data comes after intense government efforts to curb speculation.

August statistics show a 40-percent decline in property deals since June, and a 50-percent drop compared to the same period last year. Some of the regulations carried out by the Hong Kong government include the restricting of purchases for non-Hong Kong citizens. And also increasing the down payment amount a buyer needs to make a purchase.

August statistics show a 40-percent decline in property deals since June, and a 50-percent drop compared to the same period last year.

Editor:Li Wanran |Source: CNTV.CN

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