Hk Housing Market

Dozens of would be buyers lined up in the rain last week for a chance to bid on 94 apartments in the campton project in central kowloon with prices starting at hk 6 8 million s 1 2 million for a one bedroom condo.

Hk housing market. Hong kong a controversial security law that threatens to upend hong kong s status as an asian financial hub hasn t slowed the world s most expensive real estate market. The report states that despite a turbulent 2019 the underlying tensions. Cbre s mr yan expects the commercial property market to bottom out soon as deal volumes accelerate in the fourth quarter. Housing index in hong kong increased to 176 34 points in june from 175 82 points in may of 2020.

Eric pau senior associate director at one of hong kong s biggest real estate agencies vividly remembers the last time a global pandemic brought the city s property market to its knees. This page provides hong kong house price index actual values historical data forecast chart statistics. The report by cbre offers an insight to the global housing market and features 38 cities from around the world including the likes of shanghai paris new york tokyo london and madrid. The rental yields are also in decline reaching an all time low in the last two decades.

Though hong kong s economy is based on positive non interventionism citation needed the government intervenes heavily in housing disrupting free market economics. Find hong kong s latest commercial real estate research reports trends and insights. Access our housing apartment and office market reports. Housing index in hong kong averaged 86 17 points from 1994 until 2020 reaching an all time high of 185 31 points in august of 2018 and a record low of 31 34 points in may of 2003.

Amid the biggest political crisis hong kong has seen in over two decades the world s most expensive housing market is not looking good joseph tsang chairman of hong kong business at jll told. A cbre report from 2019 lists hong kong as having the highest average property price in the world. Several real estate agencies and banks are predicting a 5 to 20 slump in the hong kong market by the end of 2020. There are many contributing factors to hong kong s extremely high cost of housing.