Lijia Pavilion's president, Liao Weiqiang, pointed out that due to the high interest rate environment, the transaction performance of the Hong Kong property market in 2024 will be fluctuating. Property prices will remain soft and downward for most of the time until mid-September, when the interest rate cuts take effect and start to show momentum towards recovery. For the entire year of 2024, property prices are expected to drop by 5.8%, marking three consecutive years of decline, with a cumulative decrease of 25.6% over the three years. However, as the property market cools and enters a rate-cutting cycle, the market in 2025 is expected to see a gradual increase in both prices and volumes, reversing the trend of continuous decline. Liao Weiqiang expects that overall property prices will rise by more than 5% in 2025, with prices of small to medium-sized residential properties increasing by 6% to 8% throughout the year. Luxury property prices, supported by investment immigration and talented individuals, are also expected to increase by 3% to 5%. Regarding rental prices, a large influx of talent will bolster rental increases, with rents for small to medium-sized residential properties expected to rise by 8% in 2025; luxury rents are also expected to be popular, with an annual increase of 5%.