More Hong Kong homes sell at a loss despite signs prices have bottomed: agents

AI Summary

At least 100 secondary residential homes in Hong Kong reportedly sold at a loss in September, up from at least 81 in August, even as agents saw signs that prices had bottomed and could rebound. Agents estimate prices may finish the year 15 percent higher year over year, with the market so far avoiding an immediate setback from the US Federal Reserve’s rate increase.

Despite signs that Hong Kong property prices could have bottomed out and begun rebounding in August, market sources said at least 100 secondary residential homes were sold at a loss in September, up from at least 81 the previous month. Hong Kong’s property market dodged an immediate setback from the US Federal Reserve’s rate increase in September, and agents estimated that home prices could end the year 15 per cent higher than a year earlier. The positive trend, however, did not generally apply...