Over 50% of Hongkongers anticipate a drop in home prices in the next 12 months

With this expectation, half of Hongkongers expressed disinterest in purchasing a property in 2023.

More than half of residents in Hong Kong expect housing prices to decline in the next 12 months, Citi Hong Kong reported. 

Hongkongers' property price adjustment expectations have likely affected their interest in purchasing a property in 2023.

According to Citi's report, only 13% of respondents think that now is a good time to buy a property, and only a few (13%) have expressed interest in purchasing a property.

Of those very interested in buying a property, 75% expect housing prices to fall further to be more affordable.

The report also found that 21% of the respondents aged 21 to 29 expressed interest in buying a property due to shared discontent with their current residence’s facilities and transport network.