News Hong Kong Property & Finance

HK Home Prices Plunge 26.8%

ORIGINAL POST
Posted by Ed 5 yrs ago
AsiaXPAT (Hong Kong) - Ricacorp Properties indicates that the average price of a flat in Hong Kong has crashed 26.8% to HK$10.67 million this year due to 6 months of violent protests that have rocked HK and decimated the HK economy Read More
 
HK Commercial Real Estate Doldrums
In addition to huge price reductions in residential property in HK, commercial real estate is looking into the abyss as investors shun HK commercial property and prices start to collapse Read More
 
 
HK Residential Property Prices to Fall Another 30% in 2020? 
And finally, a survey of major property players in HK indicates that most expat HK property prices to fall another 20% to 30% in 2020 with luxury residential and premium shop spaces to be hit the hardest.  Read More
 
Implications for HSBC and Other HK Banks?
If property prices drop by another 20-30% then this will result in a massive negative equity situation in Hong Kong which could create a financial crisis.   One has to wonder how many failing business owners are struggling to pay fat mortgages on properties purchased at the peak of the HK market in recent years. 
 
 
For a sampling of what is happening in the rental property market in HK, check out our Hot Properties for Lease channel. 

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COMMENTS
Ed 5 yrs ago
AsiaXPAT (Hong Kong) - CBRE HK Reports that commercial property investment crashed by over 50% in 2019 with violent protests in HK spooking investors
 
Vacancy rates in key districts including Admiralty and Central were over 3% in 2019 compared to less than half that in 2019
 
The US - China tradewars, global economic downturn and violent pro-democracy protests in Hk have impacted the Hong Kong office and retail property market with severe reductions in investment into those property market segments in 2019.    Going into 2020, there remains a great deal of uncertainty but there are hopes for a recovery as the HK protests have slowed dramatically over the past month.
 
CBRE indicates there has been an uptick in interest in Hong Kong commercial and retail property opportunities over the past month.
 
However Savills is forecasting a 10-15% drop in the market for 2020 and JLL is even more pessimistic anticipating prices of HK commerical and retail properties will fall 20%   Read More 
 
 

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