Economics

Hong Kong Home Prices Enter Correction Territory, for Now

Values are down 10% from August peak, Centaline data show
Citigroup expects prices to bottom over coming two months

Views of the Harbour Plaza Resort City As World's Priciest Housing Market to Get Its Most Densely-Packed Apartments — Photographer: Anthony Kwan/Bloomberg

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By Shawna Kwan

January 18, 2019 at 9:31 AM UTC

This article is for subscribers only.

Home buyers in the world’s most-expensive property market may finally have something to cheer about -- Hong Kong’s housing market is officially in correction territory.

Secondary home prices have fallen by 9.8 percent from their peak in August, latest figures from Centaline Property Agency Ltd. released Friday show. That puts them at their lowest level since February 2018.