Jan 30, 2024 06:10 AM

ECONOMY

Hong Kong Home Prices Tumble to Seven-Year Low

By Wen Simin and Han Wei

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Hong Kong’s residential market, among the most expensive in the world, has remained sluggish for nearly two years

Hong Kong’s residential market, among the most expensive in the world, has remained sluggish for nearly two years

Hong Kong’s property market downturn continues with prices of pre-owned housing declining for the eighth consecutive month to a seven-year low, reflecting high interest rates and China’s faltering recovery.

Prices of pre-owned homes in Hong Kong dropped 1.39% in December from the previous month, the lowest since February 2017, according to data from Hong Kong’s Rating and Valuation Department.

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