With increasing supply of properties due to more Hongkongers emigrating overseas, property prices plummet and are getting worse rapidly.
According to the Centa-City Leading Index, since the beginning of 2022, HK property prices have fallen by more than 12 percent. The trend is also not too optimistic, as, in just the past 18 weeks, the decline has exceeded 10 percent. Another survey also shows more than half of the respondents believe that property prices will continue to fall in the next 12 months. The founder of a real estate group predicts that the HK property market can drop by as much as 20 percent throughout the year….