Cushman & Wakefield: Border Reopening With Mainland Supported Q1 Market Recovery Q1 Transaction Numbers Expected to Climb by 49% Q-O-Q
- Written by The Bulletin
- Buyers' confidence has improved with the full reopening of the Hong Kong-mainland China border, Q1 residential transaction numbers now expected to climb by 49% q-o-q to approximately 12,500 transactions
- Q1 2023 residential prices rebounded to end decline since 2H 2022, with increases most notable in starter home and mass market segments
- Market sentiment further supported by Ad Valorem Stamp Duty reduction, developers to expedite new project launches, 2023 residential transaction numbers expected to rise by 25%–35% y-o-y and prices by 5%–10% y-o-y
HONG KONG SAR - Media OutReach - 16 March 2023 - Global real estate services firm Cushman & Wakefield announced its Q1 2023 Hong Kong Residential Market Review and Outlook today.
