Home prices 'near the bottom'

Hong Kong's home prices to reach the bottom in the second quarter of next year and rebound by 5 percent in 2023, boosted by the border reopening with the mainland, Morgan Stanley expects forecasts.

The investment house predicts transaction volumes will rebound 28 percent in the primary market and 15 percent in the secondary market.

Meanwhile, Swire Properties's (1972) new Grade-A office tower at 45-46 Queen's Road East has been named Six Pacific Place, with 23 percent of the total floor area, or over 45,000 sq ft, being pre-leased.

Director for office development Don Taylor said Swire will expand its core portfolio at Pacific Place over the next decade in line with its HK$100 billion investment plan.

Expected to complete in 2023, the new tower will have 24 storeys with a total area of around 218,000 sq ft for office space.

Staff reporter