Hong Kong's residential property market remains caught in a tug-of-war, with bullish momentum stymied by a host of bearish fundamentals, according to the latest market outlook from JLL.
Recent rate cuts and rising stock prices offer positive news for Hong Kong's property market. However, the weak economy and cautious pricing from developers persist.
According to JLL's latest Hong Kong Property Market Monitor report, vacancy rates of Grade A offices in Central and Hong Kong East improved in July 2024, but office rents continue to slip.
Data from DSF indicate that the housing market transaction volume decreased by 12.7% year-over-year in the first half of the year, while 172 presale homes were recorded during the same period.