Most feel bad time to buy HK property, survey shows

Business | 24 Sep 2019 2:20 pm

Hong Kong home prices will fall in the next 12 months, more than half of respondents to a bank survey believe.

A survey by Citi Hong Kong also found that respondents who felt it is a good time to buy a home accounted for 3 percent, while the percentage of those who felt it is a bad time fell slightly from 71 percent in the second quarter to 68 percent in the third quarter.

Also, in the third quarter, 20 percent of respondents expressed a very or rather strong interest  in purchasing a property, about the same level as the previous quarter.

The survey found 24 percent of respondents aged 21 to 29 years shared a very strong or rather strong interest in buying a home, while the percentage for respondents aged 30 to 44 years was 28 percent, which was higher than the overall percentage in the third quarter.

The figures indicated a keen interest in residential property ownership among respondents aged under 44 years.

Citibank commissioned The University of Hong Kong Social Sciences Research Centre for the survey, interviewing over 500 Hong Kong respondents by phone in August.

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