Hong Kong home prices rise
According to JLL’s latest Hong Kong Property Market Monitor, Hong Kong’s housing market continued to reach new heights in December, capping off a year that saw capital values advance at their fastest pace in five years. Capital values of mass residential properties increased by 1.3% m-o-m in December to lift full-year growth to 15.8 percent.
Denis Ma, Head of Research at JLL commented, “Despite being at record high levels, we expect housing prices to continue to move higher as we enter the New Year. Market sentiment remains high, as evidenced by strong sales in the government land and primary sales markets, and will be further buoyed by the recent stock market rally. We are forecasting housing prices to increase a further 10% in 2018 but as much as 20% if the current momentum in the market is sustained.