HONG KONG : Goldman Sachs said Hong Kong residential property prices could drop as much as 20per cent through 2025, hurt by a drag on household income and homebuyer demand caused by the latest wave of the COVID-19 outbreak and a rise in interbank rates.
Hong Kong, ranked by survey company Demographia as the world's most unaffordable housing market for the 12th consecutive year, posted a 2.9per cent decline in home prices so far this year, with prices dropping at a faster pace in February to their lowest since January 2021.
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