Hong Kong's home prices would drop by 5 percent in the next half year, a commercial realtor said, while investment property transaction volumes could also drop by 90 percent this year. Alva To, vice president in Greater China and head of consulting in Greater China at Cushman & Wakefield, said property prices would drop after July or August. Home prices fell by 5.6 percent year-on-year and remained stable year to date. Tom Ko, executive director of capital markets in Hong Kong, said rents of commercial property reached a peak in the fourth quarter of 2018. Ko expects only 50 investment property deals this year, excluding residential property and the transaction volume will be around HK$150 million, plunging by 90 percent, compared with 2018.

Source: The Standard June 09, 2020 09:00 UTC