Celebrities like Chow Yun-fat may have had to reduce the price of their luxury homes in Hong Kong’s most exclusive residential area, The Peak, but analysts say the worst is over and they will be looking forward to next year. believes that demand for luxury homes will return.
The recently concluded annual meeting of China’s Central Economic Work Commission, chaired by President Xi Jinping, hinted at more aggressive and bold policy easing to stabilize the country’s real estate and stock markets next year. , they said, will increase confidence in the city’s real estate sector.
“The luxury real estate market in 2025 is expected to benefit from a recovery across the real estate sector,” said Derek Chan, head of research at RicaCorp Properties. “And coupled with overall Asian economic growth and continued improvement in the Hong Kong economy, these factors should be favorable for the real estate market next year.”
Mr Chan said he expects luxury real estate prices to rise by up to 5% next year, and luxury real estate rents are expected to rise similarly.
Other market participants expressed similar views.
Trading is also likely to improve, said Martin Wong, senior director and head of Greater China research and consulting at Knight Frank.
