Hongkong Price Fall Continues

• Proeksa Meas
• 1 October 2016
• Local News
• 1525 Views

Despite recently retaining the title of being the most expensive city in the world to live in, Hong Kong’s property market has been struggling in 2016 with strong downward pressure on prices.

Although sales grew to an 11-month high at the end of May 2016 thanks to high volumes in successful launches of new projects, the total value of home sales slid 20.3 percent month on month. Secondary home sale values have been the hardest hit.

With several large high profile projects coming on line for pre-sales in the next few months, developers are expected to offer reduced prices to drive early sales which will place further downward pressure on overall values and market performance.