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Hong Kong Residential Market Survey

Housing market grinds lower

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Housing market grinds lower

The December RICS Hong Kong Residential Market Survey shows more respondents reporting prices falling rather than rising. Indeed, the headline price net balance deteriorated notably from -54% to -76%, the lowest reading since the survey began in March 2015.

On the activity front, there was a significant drop in new buyer enquiries, with 60% more surveyors reporting a fall in demand as opposed to an increase. New instructions edged down for a third consecutive report, with the net balance coming in at -30. Newly agreed sales continued to decline sharply, with the RICS indicator deteriorating further to -62%.

Source : RICS

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Keywords : RICS