Hong Kong homebuyers face dwindling discounts as property market stabilises



May Chan is looking for a home that she can call her own.

The freelancer wants to buy a flat, but high mortgage rates as well as uncertainty in the property market kept her from taking the plunge.

“I would like to buy a flat, if I can afford it,” she said. “It would certainly help if there are discounts.”

Now that mortgage rates have stabilised and there is less uncertainty about property prices, she hopes to find a reasonably priced home.

With Hong Kong’s residential property market stabilising further and the number of unsold units dwindling, developers are likely to wind down generous discounts for new projects, prolonging Chan’s wait for an affordable home.

Deep discounts that were common until recently were likely over, according to analysts.

  • Related Posts

    HDFC Bank Deputy MD Kaizad Bharucha resigns; RBI approval sought for December 31 exit

    HDFC Bank Deputy Managing Director Kaizad Bharucha has decided to step down after more than three decades with the lender, with his exit scheduled for December 31, 2026, subject to…

    Continue reading
    ‘Much appreciated ‘: Musk replies to Reliance’s statment on Jio awaiting govt clearances

    SpaceX CEO Elon Musk responded to Reliance Industries’ statement on Starlink’s proposed India entry. Replying to Reliance’s statement on X, formerly known as Twitter, Musk wrote: ‘Much appreciated’ SpaceX CEO…

    Continue reading

    Leave a Reply

    Your email address will not be published. Required fields are marked *