REA GROUP’S ‘2018 H2 HONG KONG PROPERTY MARKET PERSPECTIVE SURVEY’ RESULTS

REA Group has released their findings from the ‘2018 H2 Hong Kong Real Estate Market Outlook' survey on November 21. Property prices are expected to take a tumble, further triggering the already-inherent desire to own property—but what do the majority of Hongkongers really think about the real estate market and its prospects?

Nerida Conisbee, chief economist of REA Group, pointed out that the last time this survey was conducted, early this year in March, “the Hong Kong market was red hot and respondents thought prices would rise by more than 10% in 12 months … [but] prices started dropping around 5% in July”. She cited the biggest factor to have driven this decline as “the Us-china trade war and the impact that will have on economic growth”. Rising mortgage rates, stock market jitters and potential oversupply are also issues of concern.

Through squarefoot.com.hk, REA Group provides real-time and holistic real estate information and leading market insights to the people of Hong Kong. Kerry Wong, chief executive officer of Greater China Region, REA Group, said that the survey allows for identifying upcoming trends more accurately, which will put the new squarefoot.com.hk and REA Group in a position “to empower the general public in acquiring more information on current market situations, enabling informed decision making”.