Hong Kong Home Prices Seen Falling as Much as 25% From Peak
- Rising interest rates, recession hurt outlook, Natixis says
- City’s property market slump expected to slow in 2024
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The slump in Hong Kong’s home prices will deepen next year due to the combination of rising borrowing costs, a recession and an exodus of residents, according to Natixis SA.
Residential prices are expected to fall 12% in 2023 and 2% the following year, taking the drop from the peak in late 2021 to 25%, Natixis analysts led by Alicia Garcia-Herrero wrote in a report dated Wednesday.