Primary market launches 360 units amidst Mid-Autumn Festival

In contrast, the secondary market was subdued.

The Land Registry has noted that residential sales rebounded 9.4% from August to 4,263 in September.

According to a release from Knight Frank, further, first-hand transactions jumped 110%, while secondary sales declined 15%, month on month (MoM).

Both demand and supply remained robust in the primary market, with around 360 units launched during the Mid-Autumn Festival holiday.

Here's more from Knight Frank:

In contrast, the secondary market remained subdued last month, amid the recent stock market volatility, a potential interest-rate rise in the US and fierce competition from primary developments.

A minor interest-rate hike is not expected to lead to a significant default risk. On the other hand, market views do not expect a drastic interest-rate hike this year.