Hong Kong private home prices are expected to climb between 3% and 5% this year on the back of projected interest rate cuts, record rental levels, and reduced supply, The Standard reported Thursday, citing Midland Holdings (HKG:1200) Chairman Freddie Wong Kin-yip.

Wong forecast first-half property transactions could reach a record 19,000, with second-hand deals hitting a four-year high of 45,000, the report said.

He added that luxury homes stand to benefit from continued capital inflows, while suggesting the government allow stamp duty payments to be made after transaction completion, according to the report.

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