Secondary market sales have rebounded significantly over the last few weeks amid signs that long-term investors are back in the hunt for property assets.

However, analysts warn the trend may be short-lived in the light of continued weak economic fundamentals.

Data collated from 50 large housing estates monitored by Ricacorp Properties shows that 533 units changed hands last week, up 26.9% from 420 transactions recorded a week earlier to a 61-week high. Deal volumes have now risen for four weeks.

However, primary market sales declined over the weekend due to the absence of new project launches, with just about 40 units sold, down from 200 units the previous week.

South China Morning Post