First sign of relief as analysts forecast Hong Kong’s residential property fever to break in second half
Property analysts warn of rising headwinds that will spur a wave of deflation for the city’s property market in the second half
PUBLISHED : Wednesday, 18 July, 2018, 9:03am
UPDATED : Wednesday, 18 July, 2018, 4:28pm
Residential home prices are likely to drop 7 per cent in the July to December period, as new supply launches and a downbeat stock market weigh on confidence, according to Citibank, the first major financial institution to call for the onset of a correction this year.
However, it is not clear whether prices will end up in negative territory for the year, as home prices rocketed 13 per cent in the first half, outpacing Cities expectation for a 10 per cent rise.