CBRE: Property prices in Hong Kong fell slightly by 0.5% month-on-month in March and are expected to continue to decline in the short term

The Zhitong Finance App learned that on April 28, the Hong Kong Rating and Property Valuation Department announced the private residential property price index for March. Guo Weiyan, executive director of CBRE Hong Kong Valuation and Advisory Services, said that the decline in property prices narrowed after four months of continuous decline. Property prices fell slightly by 0.5% month-on-month in March. Global trade tension and economic uncertainty intensified in early April, and investment intentions were adversely affected. Potential buyers take a wait-and-see attitude, which affects transaction volume and housing prices. The situation gradually improved at the end of April, and more transactions resurfaced.

He pointed out that the overall atmosphere may lead to a slight drop in housing prices in the next few months, and the situation may continue in the short term until the market becomes clear.

Regarding the rent index, he pointed out that in the future, residential rents are expected to continue to rise as more immigrants move to Hong Kong. Especially during the summer vacation, there will be a new round of demand from non-local students. Additionally, considering recent market conditions, buyers may take a wait-and-see attitude and choose to rent temporarily, or further increase rental demand.