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<HK Home>BofA Predicts HK Property Prices to Continue Falling at Least 3% This Yr; Developers Likely to Keep Destocking at Low Prices
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Karl Choi, head of Greater China property research at Bank of America (BofA) Global Research, anticipated that the overall real estate market in Hong Kong will perform better this year, yet property prices will still decline by 3-5% for the year. This forecast was made mainly based on global trade tensions and many macroeconomic uncertainties, Choi explained. He believed that Hong Kong developers will continue to sell properties at low prices to clear inventory, which will heap pressure on second-hand property prices. With the stabilization of Hong Kong's financial market and the emergence of some reliable IPO activities, Choi also envisioned an improvement in Hong Kong's commercial property market. AAStocks Financial News |
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