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2024-01-02 HKT 12:21
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Liu Jiahao said that if Hong Kong banks maintain a prudent attitude, they may maintain higher interest rates to hedge risks. It is estimated that the US interest rate cut will not significantly change the prime rate. (Photo by Luo Weihao)
Citibank predicts that the Hong Kong property market will continue to correct this year and fall by about 10% for the whole year, mainly due to excessive supply and still high interest rates.
Liao Jiahao, head of investment strategy and global wealth planning, said that the U.S. Federal Reserve is currently expected to cut interest rates by 1% cumulatively this year, but the impact on Hong Kong’s economy and property market will not appear too soon, especially as banks will adjust their prime interest rates in response to property market risks ( P), if Hong Kong banks maintain a prudent attitude, they may maintain higher interest rates to hedge risks. It is estimated that the U.S. interest rate cut will not significantly change P.
Liao Jiahao is concerned that as many as 20,000 units may be completed in the next 1 to 2 years. However, in the first 10 months of last year, the first-hand transaction volume was less than 10,000 units, which may continue to affect the first-hand property prices; in addition, the current housing cost is still as high as 4%, which is higher than The rental return of approximately 3% will continue to affect the desire to enter the market.
He believes that the housing interest rate must fall back to 3% and be in line with rental returns, which will help stabilize property prices.
2024-01-02 04:21:00
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