Real Estate

Hong Kong property prices won’t rise quickly as measures are relaxed

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Residential buildings in Hong Kong, China on October 23, 2023.

Vernon Yuen | Nurphoto | Getty Images

Hong Kong’s leader John Lee this week eased the city’s decade-old residential property cooling measures — but questions remain on whether it’s enough to boost market sentiment and low transaction volumes for the private housing sector.

“Although relaxation of property restrictions was highly anticipated, the BSD [buyers’ stamp duty] cut from 15.0% to 7.5% surprised us; the other relaxations were in-line,” Citi’s Ken Yeung wrote in a note.

He doesn’t expect the move to reverse downward trend in Hong Kong’s property prices as interest rates remain high.

According to data from real estate…



Source cnbc.com

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