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%.
Hong Kong's comprehensive CPI in August rose by 2.5% year-on-year.
On September 20th, the Hong Kong Census and Statistics Department released the consumer price index for August 2024.
In the second quarter of 2024, Hong Kong's GDP rose by 3.3% year-on-year in real terms.
On September 20, the Hong Kong Census and Statistics Department released the preliminary figures of the Gross Domestic Product (GDP) for the second quarter of 2024 compared to the previous quarter, calculated according to economic activities.
Hong Kong Monetary Authority: The composite interest rate at the end of August was 2.52%, down 6 basis points from the previous month.
On September 20, the Hong Kong Monetary Authority announced the composite interest rates as of the end of August 2024.
HKMA Lowers Base Rate by 50 Basis Points After US Fed Cuts Rate