HONG KONG - Hong Kong saw record home purchases by Chinese mainland 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 percent of the total.

In late February, the Hong Kong Special Administrative Region government 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 percent from their 2021 peak.

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

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During the first half, 6,117 new and second-hand homes worth a total of HK$70.5 billion ($9.03 billion) were purchased by mainland buyers, according to a Centaline survey, up 70 percent and 42 percent respectively from a year ago.

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

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

The removal of extra stamp duties, a peak in interest rates and a slide in home prices have attracted more non-locals to buy in the market, Centaline Asia Pacific vice-chairman Louis Chan said in a statement on Tuesday, particularly those from the mainland who are either investors or have already acquired permanent residency in the SAR.

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The realtor added mainland buyers usually prefer new and small-to-medium sized homes.