Hong Kong Home Prices Seen Falling Further in 2023 Despite Steady Interest Rates
• Hong Kong interest rates likely to remain steady or fall slightly in 2023, but property prices still expected to decline due to other factors • Analyst forecasts for 2023 predict home prices dropping between 3-10%, despite positive rate outlook • Demand from mainland Chinese buyers and rising rental yields could provide some support for property market • Consensus is for home prices to continue falling next year due to high interest rates, ample housing supply • Developers pricing new flats at 6-year lows, with robust sales for Sun Hung Kai Properties' Yoho West project