Hong
Kong's home sales more than doubled in value in December from a year
earlier, according to the city's Land Registry.
Home sales totaled HK$22.4 billion (US$2.88 billion) last month, 109.6
percent higher than a year earlier. Sales rose 14.9 percent from November.
The number of units changing hands was 7,255, 63.9 percent more than in
December 2005 and up 2.1 percent from November 2006, Bloomberg News reported.
A mortgage battle among Hong Kong banks, the rise in consumer confidence and
a shortage of new apartments may send residential prices soaring more than 50
percent by the end of 2007, UBS AG analyst Eric Wong said in
November.
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