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UBS Expects HK Property Prices to Remain Flat This Yr w/ Grade A Office Rents Falling 3-5%
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Mark Leung, Hong Kong real estate analyst at UBS Investment Bank, predicted that Hong Kong's property prices will remain flat this year, while grade A office rents may fall by 3-5%, with the overall vacancy rate t a low double-digit level.

Moreover, Leung also anticipated that Hong Kong's new mortgage rate would fall to 3.5% by the end of the year if the US cuts interest rates by another 50 bps.

Hong Kong's retail sales might drop by 0-5% YoY, mainly due to RMB depreciation and the free shipping of e-commerce products in mainland China, Leung added. The increase in the number of port that can conduct tax refund by the Chinese government will impact on Hong Kong's retail industry.
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