Investment in Hong Kong property fell by 28 per cent to HK$37 billion (US$4.73 billion) last year, its lowest level since the 2008 financial crisis, but is expected to rise to HK$50 billion in 2024, property consultancy Colliers said.An anticipated cut in interest rates as well as government initiatives promoting the city as a location for businesses’ headquarters and a hub for new capital will help, according to Colliers.
“While the market expects the US Federal Reserve’s interest rates to stabilise in the next six to nine months, coupled with the [Hong Kong] government’s initiatives [such as] ‘Headquarters Economy’ and the Capital Investment Entrant Scheme [CIES], this is likely to improve investment sentiment and re-establish Hong Kong as an investment destination,” said Thomas Chak, co-head of capital markets and investment services at Colliers Hong Kong.
Last year,…
