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In light of China’s reopening and easing of Covid rules, Hong Kong’s property market will be on a path to recovery in 2023, according to property consultancy Colliers Hong Kong.
The retail market in particular will reap the “best benefit,” Hannah Jeong, Colliers’ head of valuation and advisory services, told CNBC’s “Squawk Box Asia” on Thursday.
However, there are still some potential headwinds this year that may undercut Hong Kong’s recovery, Colliers said in its latest report. Those include continued geopolitical tension and a potential global recession.
“We are looking at a more cautiously optimistic view for 2023,” Jeong added.
“There will be different uncertainties from external…
Source cnbc.com
