New-home sales predicted to rise 20pc

Hong Kong’s new-home sales are expected to rise 20 percent this year, with inventory dropping to 90,000 units, as easing interest rates and slower land supply help stabilize the market, says Ricky Wong Kwong-yiu, vice chairman and managing director of Wheelock Properties.

Wong said the interest rates and unsold inventory remain key headwinds, but added that housing stock has already declined to around 105,000 units.

"A sharp drop in the city’s interbank offered rates has prompted some investors to return to the market, and some residents to shift from renting to home ownership. New-home deals reached nearly 2,200 units last month and are expected to hit around 2,000 this month," Wong noted.

He added that the prices of property in the second half of the year may also increase by about 3 percent compared to the beginning of 2025.

STAFF REPORTER