More residents in Hong Kong may choose to buy homes instead of renting if mortgage rates continue to fall and the shortage of rental properties persists, The Standard reported Wednesday, citing Centaline founder Shih Wing-ching.
The city's real mortgage rate has dropped to 2.63% due to the continued decline in the one-month interbank rate, according to the report.
Investors may also shift toward purchasing properties for rental income if bank deposit rates decrease, the report said, citing the property agency chair.
Hong Kong's housing market is expected to bottom out in 2025, as improved affordability, driven in part by a 30% drop in home prices, supports a potential recovery, Shih reportedly said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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