Feb. 6, 2007 (China Knowledge) – Cheung Kong (Holdings) <1> has set a target of HK$14 billion for home sales this year by planning to sell between 3,500 and 4,000 residential units this year.

In an indication of improving buying sentiment, the company said that it sold 422 flats in January, earning HK$1.53 billion.

Also, according to statistics from the Land Registry, the value of apartment transactions surged 81.5% to HK$21.4 billion year-on-year. Last month 7,485 units changed hands, up 52.8% from the same period last year when the market was hit by rising interest rates.

Cheung Kong executive director Justin Chiu Kwok-hung expects home prices to increase by 10% this year due to a revival of the secondary residential market and continuing economic growth in Hong Kong.