Residential Prices Further Corrected in Q3, Transaction Numbers Fell by 22% Q-O-Q as Interest Rates Rise, Market Could Stabilize in Q4, Focusing on Primary Sales
- Written by The Bulletin
- Interest rate hikes and pandemic uncertainties slowed the secondary market in Q3, with transactions for the quarter expected to reach 11,600 deals, a fall of 22% q-o-q
- Home prices further declined across market segments in Q3, with mass and middle markets expected to experience more notable corrections
- A trend-down in COVID cases from September could see home prices bottom out and stabilize in Q4, although 2022 full-year transactions are still expected to drop by 35% y-o-y
HONG KONG SAR - Media OutReach - 15 September 2022 - Global real estate services firm Cushman & Wakefield announced its Q3 2022 Hong Kong Residential Market Review and Outlook today.
