0850 GMT - Hong Kong's residential property market is likely to bottom out in 2025 given falling home prices and improving transaction volumes, CCB International analysts write in a note. Rising rents and falling prices, along with rate cuts expected next year, will improve the cost of carry for property investment in the region, they say. CCB International forecasts a 4% rental yield and a 3% mortgage rate by the end of 2025. In addition, pent-up demand over the past three years and the shift to buying from renting have prompted property developers to clear inventory, they say. Transaction volumes in the primary and secondary markets will likely improve to 18,000 units and 35,000 units, respectively, in 2025, they add. (jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
November 29, 2024 03:50 ET (08:50 GMT)
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