Home sales registered in Hong Kong probably fell to a 19-year low in November as the impact of the global credit crisis spreads to the city's housing market.

Hong Kong recorded 3,340 transaction in the first 26 days of last month, compared with 6,054 in the whole of October, Centaline Property Agency Ltd, one of the city's two biggest real-estate companies, said yesterday in a release. Sales will probably total about 3,750 for the full month, the fewest since July 1989, Centaline said.

The city's worsening economic outlook, coupled with declines in the stock market, curbed demand for real estate and led potential buyers to expect cheaper prices. Home prices have fallen 22.4 percent since reaching the highest in almost 10 years in March, according to Centaline, Bloomberg News reported.

The value of November transactions may drop to HK$10.3 billion (US$1.33 billion), a 46-percent decline from October, Centaline said.

Sale registration in any given month "typically reflects sales in the previous month," the company said. Registrations may rise to 7,000 in December because more new apartments were offered by developers in November, Centaline said.

Sun Hung Kai Properties Ltd, Hong Kong's biggest developer by market value, sold nearly 300 units in a new apartment project in the Yuen Long district in the first two days, Sing Tao Daily said yesterday.