, home prices have started rising again. The world's least affordable housing market may even be prepping for another boom.Credit:Green shoots have included increased viewings at project sales and revived interest in government land auctions, with a plot in the northern New Territories selling for a higher price than analysts expected last month. The Centa-City Leading Index of second-hand home prices is up more than 1 per cent from its recent low after gaining for three consecutive weeks.
So what's changed? A reprieve from the US Federal Reserve, broader stock-market gains and the strengthening of China's currency. The Fed turned dovish in December, signaling less likelihood of further rate increases this year. That's a boon for Hong Kong, which tracks changes in US rates because of the city's currency peg to the dollar. The Hang Seng Index has climbed 17 per cent since the end of October.
Granted, Hong Kong home valuations remain stretched, at 18 times the median income even after recent declines. And the overbuilding of parking space-sized apartments in outer areas may weigh on prices. Any forecasts of a boom should also come with a caveat: All bets are off if the city's economy heads south.
Lol if this was crypto we would be saying 'nice try shill'. Do your own research people.
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