China's reopening set to boost Hong Kong's property market as retail leads the recovery: Colliers

over the last three years may paint a new picture to the new retail market sentiment," it added.

In the office sector, Grade A office rents will bounce back by 3% this year, said Colliers — thanks to "pent-up demand from Chinese and overseas companies.""But it's not it's not the end of the world because … compared with other peer cities, 8% to 10% is a generally reasonable number," she added.in October as interest rates hikes pushed up borrowing costs.

This resulted in a "softening of investment demand," said Jeong, but the demand from homebuyers still exists. "Homebuyers … [have been] utilizing this time when market is softening, they can snatch the cheaper flats," she added.

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