Home » Hong Kong Economy: Is the Indian Summer in the property market unsustainable after the “removal of spicy food”? – BBC News Chinese

Hong Kong Economy: Is the Indian Summer in the property market unsustainable after the “removal of spicy food”? – BBC News Chinese

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Hong Kong Economy: Is the Indian Summer in the property market unsustainable after the “removal of spicy food”? – BBC News Chinese

Title: Hong Kong Property Market Continues to Struggle Despite Government Stimulus Measures

The property market in Hong Kong has been facing significant challenges as prices continue to plummet despite the government’s efforts to boost transactions. The recent withdrawal of stimulus measures has sparked mixed reactions among buyers, industry insiders, and academics.

The government’s decision to loosen restrictions on the property market earlier this year ended a 14-year era of aggressive measures, leading to a temporary surge in transaction volume. However, the rebound was short-lived, with critics pointing out that prices remained low despite increased activity.

One Hong Kong native, Ms. Li, shared her experience of rushing to purchase a property after the announcement of the market’s “retirement”. She highlighted the uncertainty created by the withdrawal of measures and the fear of missing out on a good deal in the future.

While some buyers like Ms. Li saw the opportunity to purchase properties at favorable prices, others remained cautious. Developers have been offering sales promotions to clear inventory, but the oversupply in the market has dampened the rebound in prices.

The withdrawal of stimulus measures has also raised concerns about the future of the property market. Analysts predict that while transaction volume may increase in the short term, prices are expected to continue falling due to economic challenges and oversupply.

Foreign buyers, including mainland Chinese investors, are also showing interest in the Hong Kong property market. However, the overall sentiment remains cautious, with uncertainties about the economy and the long-term outlook for property prices.

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Industry leaders and economists have conflicting views on the impact of the withdrawal of stimulus measures. While some believe that the market will stabilize over time, others express concerns about the challenges ahead for Hong Kong’s property market and economy.

As the property market grapples with ongoing challenges, stakeholders are closely monitoring developments and adjusting their strategies to navigate the uncertain landscape.Hong Kong’s property market has been experiencing a decline despite government efforts to boost transactions.

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