The office property market performed well in July with 110 transactions, an increase of about 50 percent, reaching a new monthly high in nearly five years, according to a property agency.

The agency believes landlords are selling at a loss to generate cash, attracting local users and investors to buy at lower prices.

The market for industrial, commercial and shop property recorded 430 transactions in July, the third consecutive month with over 400 transactions.

The total transaction value was HK$5.17 billion, a rise of about 8.93 percent from last month.

Coupled with the strong entry of new Chinese and foreign investors, the property market for industrial, commercial and shops is expected to see prices remain stable as volume rises in August.