Property firms see zero sales at top estates over LNY
Two major property agencies on Wednesday said they didn't sell a single home at their top 10 private housing estates over the four-day Lunar New Year period.  The CEO of Midland Realty, Sammy Po, attributed the company's holiday blues to many residents travelling abroad or participating in festive activities. The Asia-Pacific vice-chairman of residential at Centaline, Louis Chan, said would-be homebuyers are waiting to see if the government will scrap property cooling measures in this year's budget speech. Speaking to RTHK, the chairman of Professional Property Services Group, Nicholas Brooke, agreed that people are adopting a watch-and-wait approach ahead of the budget announcement, adding that global economic and political uncertainties have contributed to subdued sentiment in the property market. "You've got holidays. You've got people travelling. You've got the budget. And obviously, you've got considerations about the worldwide economic and political situation. You've got the economy in China...  So if you add up all those factors, it's not totally surprising that there was a very much reduced level of activity over the holiday period," Brooke said. He added that he expects the property market to remain quiet this year, even after the budget announcement and any interest rate cuts by the US Federal Reserve.