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Hong Kong Property Watch 2013: Home Prices Will Soar to All Time High by 2014

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Hong Kong Property Watch 2013: Home Prices Will Soar to All Time High by 2014 - property - Hong Kong - property prices


Sales of Hong Kong's new homes could reach record highs -- yes, another record high -- over the next couple of years as developers accelerate releases of residential projects, according to a report in the South China Morning Post.



"We see the property up-cycle continuing until the end of 2014 at least," Lee Wee Liat, head of research at BNP Paribas Securities, said to the Post.

"Primary-market transaction volumes should remain strong over the next two years, possibly hitting historical highs of 15,000 units and HK$150 billion in each of 2013 and 2014."

Lee expects the number of deals in the primary market to reach 13,000 this year with a total value of HK$136 billion, compared to 10,501 deals last year at a total value of HK$133.32 billion.



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