简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Hong Kong private home prices fell at a faster pace in June and dropped to the lowest since December 2020, official data showed on Wednesday, as homebuyers stayed on the sidelines due to an uncertain outlook and rising interest rates.
Home prices in one of the worlds most unaffordable housing markets slipped 1.1% last month from a month earlier, compared with a revised 0.2% decline in May.
Rates in Hong Kong tend to move in lockstep with U.S. rates, as its currency is pegged to the greenback, although they have lagged their U.S. equivalents in recent months.
But the market expected major banks in the city would likely raise their best lending rates this week, if the U.S. Federal Reserve raises rates sharply as expected later on Wednesday.
One month Hibor – the Hong Kong Interbank Offered Rate, a benchmark used for pricing mortgages – last week rose to its highest since May 2020.
“A rise in interest rates will affect housing transactions in the short term,” said Martin Wong, Greater China head of research & consultancy at Knight Frank, adding that it would have more of a psychological impact rather than an actual impact of lowering buyers repayment ability.
Home prices in the financial hub have dropped 3.4% so far this year.
Hong Kong‘s economy buckled this year under some of the world’s most stringent restrictions to contain COVID-19 outbreaks but sentiment improved after the city eased most of the measures and there were waves of new development launches.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The UK Financial Conduct Authority (FCA) has issued a formal letter to financial advisers and investment intermediaries, detailing its regulatory expectations in light of increased industry consolidation over the past two years.
ATFX is a trusted CFD broker offering competitive spreads, zero commissions, and fast trade execution. Trade forex, commodities, indices, and more with award-winning service.
The relationship between brokers and traders is intricate. Both sides play pivotal roles in driving the multi-trillion-dollar foreign exchange market, but the question remains: who holds the upper hand? To answer this, it’s crucial to understand the roles they play, the advantages each side possesses, and how these factors shape their position in the market.
Dukascopy Bank SA, a reputable Swiss financial institution, has issued a public warning against an entity that is fraudulently using its data and brand.