2nd-hand apartment sales in Hong Kong's 10 largest residential estates dropped 24% last weekend, indicating the housing rebound is cooling.

Hong Kong's housing rebound is cooling, with sales of secondhand apartments at the 10 largest residential estates dropping 24% last weekend, according to Centaline Property Agency. The recovery, triggered by the removal of extra property taxes last month, is starting to ease. Developers' low-price strategy for new projects has attracted buyers from the secondary market, causing slower sales in the sector.