The November RICS Hong Kong Residential Market Survey shows more respondents reporting prices falling rather than rising. Indeed, the headline price net balance deteriorated notably from -31% to -54%, the lowest reading since the survey began in March 2015.
Meanwhile, on the activity front, there was another drop in new buyer enquiries, with 40% more surveyors reporting a fall in demand, as opposed to an increase (this balance was broadly unchanged from the previous month). New instructions edged down for the second consecutive report, with the net balance coming in at -18. Newly agreed sales continued to decline sharply, with the RICS indicator deteriorating further to -51%.
Source : RICS