Hong Kong property market expects correction

110487

Raising interest rates in Hong Kong for the first time in 12 years, as well as the ongoing trade dispute between the United States and China, led to signs of a downturn in the Hong Kong real estate market, Bloomberg writes. In the five weeks that have passed since the increase in interest rates, home prices in Hong Kong have fallen by 3%. During the correction period from 2015 to 2016, the price reduction was 13%. In September, the number of applications for mortgage loans fell by 56% to 7,977, which was the most significant drop in 20 years. The expensive real estate sector is also experiencing a significant decline in sales. Many real estate agencies are forced to lay off employees or send them on unpaid leave. In October, the number of deals decreased by 43% compared to September.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong
Message: