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The local residential market has experienced volatility in recent months. Sales volumes shot up almost instantly after the amendments to the Mortgage Insurance Programme, a measure that aimed to relax the ceiling on mortgage financing, took effect last October. “Since the new arrangements are in place, the secondary market has recorded over 100 transactions in just half a month. As local political tension and the US-China trade dispute appear to be abating, we expect the residential market to remain exuberant,” said Alvin Leung, regional director at Ricacorp Properties. However, market activities quickly ground to a halt in the wake of last December’s
coronavirus outbreak. Worse still, putting the local economy and the lives of people under threat.
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