Hong Kong home prices headed for 15% gain this year, Midland forecast says
As the market digests uncertainties, new property launches are accelerating and buyers are returning to the market, executive says
Hong Kong’s home prices will end the year 15 per cent higher than a year earlier, but still 16 per cent below their high-water mark in 2021, according to local property agency Midland Realty.
Underpinning the positive forecast, the city’s banks were not likely to follow an increase in US interest rates by the Federal Reserve if one occurred this year, executives from the agency said at a press conference on Thursday.
Dave Ma Tai-yeung, CEO of Midland (Residential), said that as the market gradually digested geopolitical and external economic uncertainties, new property launches were accelerating and buyers were returning to the market.
“With the improved market sentiment, developers will accelerate the launch of new projects, and the residential market is expected to further recover,” Ma said.