Posted 2/12/2024, 8:30:14 AM
Hong Kong Home Prices Forecast to Drop 5% in 2023 Before Rebounding in 2025 - Negative Equity Cases Rise as Office Vacancies Hit Record Highs
- Hong Kong home prices to hit bottom this year, fall 5% in 2023 - Goldman forecasts rebound in 2025, 5% price growth as rates decline
- Home prices down 23% from 2021 peak; softness manageable vs other forecasts
- Negative equity cases double to over 25K on price declines; some forced selling
- Office vacancies at record 16.4%; Goldman concerned on supply/demand imbalance
- Tenants favored in 2024; CBRE sees further 5-10% office rent declines in Central