One of the advantages of investing in a place like Asia in general is that it appears to be the least affected by the global credit crunch. Recent figures out of the Hong Kong property market appear to be proving the truthfulness of that sentiment.
According to the records of the Hong Kong Land Registry, January saw property transactions recorded at HKD 67.8 billion. This number represents both a 149.3 per cent increase from January of 2007 as well as a 5.2 per cent increase from the previous month of December 2007.
The overall number of transactions that the Land Registry recorded was 16,984. This number represents a 92.8 per cent increase from one year ago and an 8.9 per cent increase from the previous month.
Both of these figures confirm a trend that has been forming in Hong Kong for some time. This trend shows that not only is activity in the Hong Kong property market increasing, but the value of that activity as property investments gain momentum is also going up. Both of these conclusions are very encouraging for people interested in direct investment into the Hong Kong property market.
Out of the almost 17,000 transactions that Hong Kong was able to record in January, almost 15,000 of them were for residential pieces of property. This represents a 9.5 per cent increase from December 2007 and a 97.5 per cent increase from January 2007. Both of those increases are very encouraging, especially for people considering a buy-to-let strategy for their piece of Hong Kong property.
Just as with the relationship between value and amount for the overall property market, residential properties also saw a positive correlation between number of transactions and overall value of transactions. The valuation of the residential transactions gained 7.6 per cent in January to reach HKD 56.5 billion, while that same number corresponded to a whopping 164.8 per cent increase from the same time in 2007.
