Hong Kong lived-in home prices fall to lowest point in 8 years in January
Hong Kong's lived-in home prices have fallen to an eight-year low in January, declining 0.45% and bringing the index to a level unseen since August 2016. This continues a downward trend, with a 7.13% decrease in 2024, following drops of 15% in 2023 and 7% in 2022. Despite this, some analysts are optimistic that the market may bottom out in the first half of the year.
The decline is attributed to the Lunar New Year low season and pressure from developers resuming new project launches. However, factors like an improving stock market, driven in part by Beijing's efforts to support the mainland economy, and a reduction in housing supply could stabilize or even increase residential prices in the near future. The Hang Seng Index's correlation with residential prices suggests that continued stock market performance could positively impact the property market with a slight delay.
via SCMP Full Text Feed
Hong Kong's lived-in home prices have fallen to an eight-year low in January, declining 0.45% and bringing the index to a level unseen since August 2016. This continues a downward trend, with a 7.13% decrease in 2024, following drops of 15% in 2023 and 7% in 2022. Despite this, some analysts are optimistic that the market may bottom out in the first half of the year.
The decline is attributed to the Lunar New Year low season and pressure from developers resuming new project launches. However, factors like an improving stock market, driven in part by Beijing's efforts to support the mainland economy, and a reduction in housing supply could stabilize or even increase residential prices in the near future. The Hang Seng Index's correlation with residential prices suggests that continued stock market performance could positively impact the property market with a slight delay.
via SCMP Full Text Feed
