Hong Kong Housing Market Slumps Amid High Rates, China Tensions
- US interest rates and tensions with China dragging down Hong Kong property market
- Developers pessimistic, not bidding in land auctions, inventory pile-up signals further price drops
- Price war looms among new projects, especially in Kai Tak and New Territories
- Government policies to attract talent have limited impact on housing demand
- Mainland China economic recovery only light at the end of the tunnel