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Morgan Stanley: Rate cut effects are slowly fermenting, expecting first-hand transactions in Hong Kong's property market to increase by more than 1.8 times to over 2,000 in October.
Tony Yau, CEO of the Residential Division of Colliers International, stated that although the Hong Kong property market did not see a rapid warming after the interest rate cut, the recent sudden introduction of a combination of measures by the central government to boost the property and stock markets, along with Hong Kong's latest new low in the housing affordability ratio in over 8 years, as well as the gradual effects of the interest rate cut fermenting in the property market, it is expected that there will be ample opportunities for improvement in property trading in October.
Lijiagge: Rate cut effect remains to be observed, expected Hong Kong property prices to fall by another 1% in September.
The latest data published by the Hong Kong Rating and Valuation Department today shows that the private residence price index for August 2024 was 292.1 points, a continued decrease of 1.72% from July's 297.2 points, marking the fourth consecutive month of decline, with a total decline of 5.65%.
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