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Hong Kong Residential Market Survey

Sentiment remains robust despite softening mainland demand

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The January Hong Kong Residential Market Survey shows that sentiment surrounding the housing market remained robust in January. This indicates that the market may have already recovered from the stamp duty increase in November, despite past episodes of government cooling measures in 2010, 2012, and 2013 resulting in three-to-six months of softer residential property markets.

Momentum remained robust despite demand from mainland Chinese buyers beginning to fade. A net balance of 17% more respondents reported a decrease in mainland demand vs an increase, the second consectuve month where a majority of respondents reported a decrease in mainland demand. This corresponds to a continued crackdown on capital outflows by the mainland Chinese government as fresh restrictions came into effect in January.

Source : RICS

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Keywords : RICS