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Hong Kong’s lived-in home prices fell for the ninth straight month in January, intensifying calls to roll back curbs on the sector even as the government is seeking to rein in a ballooning deficit estimated to exceed HK$100 billion (US$12.8 billion).
In January, the secondary market saw 419 loss-making transactions, the highest since March 2023, including one transaction that lost HK$9.62 million (US$1.2 million).
Transactions in 2023 fell 2.7 per cent year on year to 58,023, while value fell 13.9 per cent to HK$477.6 billion (US$61 billion), Centaline says. Property agents see growth ahead given positive December figures and anticipated rate cuts.
The housing market continued to decline, with prices in November falling for the seventh month in a row to their lowest level since February 2017, according to government data.
Aiden He Hong Kong private home prices slumped to their lowest in more than 6 1/2 years in October amid high-interest rates and are projecte...