HONG KONG: Hong Kong private home prices, the most unaffordable in the world, extended gains for a fifth consecutive month in May, official data showed on Monday , helped by a recovering economy and expectations that Chinese buying will keep prices firm.
"We expect that with the resumption of cross-border travels in the second half of this year, mainland buyers will inject momentum into local property sales," said Cushman & Wakefield Greater China vice president Alva To. Cushman & Wakefield expected total home transactions in the first half will increase to the highest since 2012.New World Development's latest batch of 173 units rolled out earlier this month in a New Territories project received 30,600 registrations of intent from potential buyers, the highest ever in Hong Kong.
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