Buyers and investors in Hong Kong’s property market seem to be veering towards commercial as residential property prices decline.
Photo credit: Office18.com
Offices are at the top of the list as Chinese companies continue to seek out spaces and sometimes even entire buildings. Hong Kong is a city popular with Chinese corporations who hope to elevate their brand globally by having offices in the country. As the economy in China begins to slow, many companies are looking outside of the country for higher returns.
Home prices on the other hand, are not faring as well. Residential property prices are expected to fall by up to 20 per cent within the next couple of quarters. This may impact overseas investors who have previously purchased properties in Hong Kong. But the falling prices may be good news to those who are hoping to snag a few more properties in the city. Investors may very well take the opportunity to purchase and hold on to these assets whose value might rise in the future not too far away.
Photo credit: GoHome.com.hk
There is however certainly no lack of new property launches in Hong Kong; with apartments in Mong Kok, Aberdeen and Yuen Long, just to name a few.
