HONG KONG, July 17 Reuters Hong Kong saw record home purchases by mainland Chinese buyers in the first six months after the financial hub removed all buying curbs, major realtor Centaline Property Agency said, with their transaction value accounting for 31 of the total.

In late February, Hong Kong removed all additional stamp duties for foreign and second home buyers, as well as on those selling flats within two years of buying them, after prices had plunged 20 from their 2021 peak, hurt by higher mortgage rates, an outflow of talent and a weak market outlook.

During the first half, 6,117 new and secondhand homes worth a total of HK70.5 billion 9.03 billion were purchased by mainland Chinese buyers, according to a Centaline survey that tracks buyers39; names with Mandarin spellings, up 70 and 42 respectively from a year ago.

The volume and value accounted for 25 and 31 of the total recorded in one of the world39;s most expensive property markets during the period, respectively.

Centaline said the purchase volumes, value and contribution by mainland Chinese buyers were all at historical highs. The contributions have been below 15 before 2023.

The removal of extra stamp duties, a peak in interest rates and a slide in home prices have attracted more nonlocals to buy in the market, Centaline Asia Pacific vice chairman Louis Chan said in a statement on Tuesday, particularly mainland Chinese who are either investors or have already acquired Hong Kong citizenship.

The…