Hong Kong has experienced a significant decline in commercial property values, with an estimated HK$2.1 trillion ($270 billion) wiped out since 2019. This decline is attributed to various factors, including a steady loss of faith in Hong Kong's status as Asia's premier financial hub. Hang Lung Group has noted this as the biggest structural change in 50 years in the property sector. Despite this downturn, Hong Kong's housing market remains the least affordable in the world for the 14th consecutive year, according to recent research.
Why Hong Kong's housing market is the most expensive in the world https://t.co/gLuP6019qa
Hong Kong homes remain most unaffordable in the world for 14th year: research Well, Hong Kong is still number one in the world with the least affordable housing. Eat that, Australia and Canada. https://t.co/4ceAC1czkU
Hong Kong: where the real estate market has shed $270bn in value over the past five years, but housing remains the least affordable in the world. https://t.co/b4zix0jZio
Bloomberg reports Hong Kong has had at least $270 billion wiped out from real estate values since 2019, amid factors including a 'steady loss of faith' in its status as Asia's premier financial hub.
Hong Kong has seen HK$2.1 trillion or $270 billion in estimated commercial property value declines since 2019, which relative to the size of their property market, is gargantuan... Seeing the biggest structural change in 50 years in the property sector (Hang Lung Group…