Hong Kong home prices to grow up to 5 percent this year, Midland says

Hong Kong private home prices are expected to rebound 3 to 5 percent this year, driven by a projected lower interest rate, record rents, and a reduction in supply, said Midland (1200) chairman Freddie Wong Kin-yip.

He expects first-half property transactions to hit a record of 19,000 this year and the number of second-hand deals to reach a four-year high of 45,000. 

Luxury homes are to benefit from the continuous inflow of funds, Wong said, while suggesting the government defer the payment of stamp duty until after the completion of the transaction.