Hong Kong property: second-hand prices edge up in April as bargains on new units seduce buyers, analysts say scmp.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from scmp.com Daily Mail and Mail on Sunday newspapers.
Buoyed by the brisk sales of flats following the removal of Hong Kong’s property cooling measures, the city’s developers have this year launched 4,800 new units as of last week, a seven-year high.
Hong Kong announced its budget for the 2024-2025 financial year on Wednesday. The announcement came against a backdrop of a weakness in its property and equities markets, and concerns about the.
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).
More newly-built flats will enter the city’s residential market in the first half, adding to unsold units from the past two years. Home prices, already near the lowest in seven years, are likely to weakenfurther, analysts say.