MIDLAND HOLDING anticipates that Hong Kong property prices will likely "counterattack" next year, reversing the trend of three consecutive years of decline, and increasing by about 5%, with rents also rising by 6%.
According to the Zhichun Finance APP, MIDLAND HOLDING has announced the "2024 Hong Kong Property Market Review and Outlook." MIDLAND HOLDING's CEO (Residence) Ma Tai-yong stated that looking ahead to 2025, multiple Bullish factors have emerged, which are believed to help boost the property market steadily. It is expected that Hong Kong property prices will likely "counterattack" next year, reversing the trend of three consecutive years of decline, with a rebound of about 5%, and rents rising again by 6%; it is anticipated that developers will continue to actively sell, and it is believed that the total volume of primary transactions will increase by more than 10% year-on-year to 0.018 million, creating a six-year high; the secondary transaction volume is expected to rise by approximately 5% to about 0.042 million, likely reaching a four-year high.
In the aforementioned report, MIDLAND HOLDING pointed out that Hong Kong property prices are still recording a decline in 2024, with a decrease of about 6.8% so far this year; however, rents have increased by 5.5% in the first 11 months of this year, showing a continuous contradiction of "rising rents and falling property prices" for two consecutive years.
MIDLAND PROPERTY's CEO of the Residential Department, Bu Shaoming, stated that the Hong Kong government proposed to optimize the "New Capital Investor Immigration Program" in the "Policy Address," allowing investment in residential properties. According to the comprehensive data from MIDLAND PROPERTY's Research Center and the Land Registry, the registration volume of second-hand residential properties this year surpasses 50 million Hong Kong dollars, totaling 611 cases, creating a three-year high.