Hong Kong Property Market Sees Moderate Growth in April
Hong Kong's private home prices climbed for the second month in a row in April
Hong Kong Property MarketProperty PricesStamp DutiesMortgage RatesProperty DevelopersReal Estate NewsMay 29, 2024
In late February, Hong Kong removed all additional stamp duties for foreign and second home buyers, as well as on those selling flats within two years of buying them, after prices had plunged 20% from their 2021 peak, hurt by higher mortgage rates, an outflow of talent, and a weak market outlook. The property market immediately celebrated the end of those measures with a jump in transactions, but analysts expect prices to remain subdued in the near term as property developers rush to launch sales at steep discounts.
Hong Kong's property market has been experiencing a slump in recent years, with prices falling by 20% from their 2021 peak. The government's move to lift curbs on foreign and second home buyers, as well as on those selling flats within two years of buying them, is aimed at boosting the market.
Hong Kong is a financial hub and one of the world's most expensive property markets.
Frequently Asked Questions
What was the percentage increase in Hong Kong's private home prices in April?
0 3%
What measures did Hong Kong remove in late February to boost its ailing property market?
Additional stamp duties for foreign and second home buyers as well as on those selling flats within two years of buying them
What was the percentage fall in Hong Kong's property prices from their 2021 peak?
20%
Why did Hong Kong's property prices fall in recent years?
Higher mortgage rates an outflow of talent and a weak market outlook
What do analysts expect for Hong Kong's property prices in the near term?
Prices to remain subdued as property developers rush to launch sales at steep discounts
Related News Articles
Indian Real Estate Sees Resurgence in Private Equity Investments
Private equity investments in Indian real estate surged 15% YoY to USD 3 billion in H1 2024, driven by growth in warehousing and residential sectors.
Government Offers Flexibility to Taxpayers on Capital Gains Tax for Real Estate Transactions
In a move to simplify tax calculations, the government has introduced an option for taxpayers to compute capital gains tax on real estate transactions. This change is expected to benefit property sellers and reduce disputes over tax liabilities.
Small Cities, Big Opportunities: How Tier-2 and Tier-3 Cities are Revolutionizing the Real Estate Market
Mid-tier cities like Faridabad, Lucknow, Vrindavan, Ludhiana, Chandigarh, Indore, Dehradun, and Jaipur are becoming hotspots in the real estate market, offering a low-cost, peaceful life and high returns on investment.
Pre-Budget Expectations for the Real Estate Sector in Maharashtra
MahaRERA appoints NAREDCO Maharashtra as the first self-regulatory organization. The Maharashtra Real Estate Regulatory Authority makes a significant step towards ensuring transparency and accountability in the real estate sector.
Barbara Corcoran to Headline Kinexions 2025: A Premier Supply Chain Conference
Real estate mogul and entrepreneur Barbara Corcoran will take center stage at the premier supply chain conference of the year in Ottawa, Ontario, Canada.
Housing Sales Surge in India's Top 15 Tier-II Cities by 20% in Value
Coimbatore leads the growth with a 36% increase in sales volume, while Visakhapatnam's real estate market experiences a 21% downturn.