Total value of property sales increased 8.3 per cent to about HK$57.9 billion (US$7.45 billion).
Residential sales also jumped to a three-month high of 5,714 units, the highest since July’s 5,766 deals, the Land Registry data showed. The total value of home sales reached HK$51.07 billion, the highest since HK$61.06 billion in June.
As the first round of new residential project offerings in October frequently sold out, November property transactions are expected to jump 5 per cent to exceed 7,500 deals, which would set a new 12-month high, according to Derek Chan Hoi-chiu, head of research at Ricacorp Properties.
October’s sales results, which marked the third consecutive month of gains in the sector, appeared to strengthen the outlook for a sustained market recovery.
