Posted 4/6/2024, 2:00:18 AM
Hong Kong Property Market Sees Uptick in Transactions But Prices Remain Stable Due to High Supply
- Pent-up demand and removal of cooling measures drove a surge in Hong Kong property transactions, but prices have not increased significantly
- Supply of new units will remain high over next few years, limiting price growth prospects
- Developers offering large discounts to attract buyers indicates their caution on market outlook
- Mainland Chinese buyers returning, partly aided by Hong Kong's talent schemes
- Experts say volatile, skyrocketing price growth is unlikely in the future with more moderate, stable appreciation expected