The value of Hong Kong's private home market fell by HK$480 billion since February 2024, The Standard reported Friday, citing Centaline Property Agency.
Each homeowner is said to have lost an average of HK$470,000, the report said, citing Centaline.
The devaluation came after government caps on home purchases were removed, the report said.
Home purchases by mainland Chinese rose 104% to 11,522 in 2024 while the value jumped 80% year over year to HK$128.3 billion, according to The Standard.
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