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Real Estate

Hong Kong’s Home Prices Set to Hit Five-Year Low as Rates Bite

  • Some buyers prefer to rent rather than take on expensive loans
  • Slump is unlikely to result in a crash akin to the late 1990s
Bloomberg business news
Housing’s Global Slump Is Deepening From Rate-Hike Pain

Prices in the world’s most expensive housing market are set to fall to the lowest since 2017 as surging borrowing costs deter buyers. 

Bloomberg Intelligence predicts the secondary market will log the milestone next quarter. Mortgage rates may jump to the highest since 2008, in tandem with US rate hikes, BI analysts Patrick Wong and Francis Chan wrote in a note on Friday.