HONG Kong's existing apartment sales rose in May from a month earlier as home buyers' confidence was boosted by sales in new projects during the month.

Transactions for 10 of Hong Kong's biggest private-housing projects rose to 596 last month from 454 in April, according to figures by Centaline Property Agency Ltd.

"In May, buyers' focus has actually been on the luxury new apartments," Louis Chan, managing director of residential properties at Centaline, told Bloomberg News. "This has bolstered the confidence of less-affluent buyers. You can expect the market to be dominated by the less-expensive second-hand apartments in June."

Cheung Kong Holdings Ltd has sold more than 420 apartments at its Celestial Heights development in the special administrative region's Ho Man Tin District since they went on sale on May 21, the Hong Kong Economic Times reported yesterday, citing Executive Director Justin Chiu.

The sale brought in over HK$11 billion (US$1.41 billion).