Hong Kong’s economic growth forecast to slow to 1.7%

Hong Kong’s economic growth is expected to slow to 1.7% this quarter, mainly due to high-interest rates, according to the University of Hong Kong (HKU). Despite this, property consultant Cushman & Wakefield predicts a 3% rise in home prices in the first half of the year, with a potential increase of 5% to 7% if interest rates decrease in the second half. However, they noted that there would be no sharp rebound in prices. Following the removal of stamp duties, home prices increased by 1.5% in March. Additionally, CK Asset’s Blue Coast development received over 10,000 applications for 184 units, making it 53 times oversubscribed, while Citic has placed 144 homes at Jardine’s Lookout on the market.