Hong Kong’s property sector has proved largely resilient during the protest period, US-China trade war.
Memories of the 2003 Severe Acute Respiratory Syndrome have prompted most Hong Kongers to follow strict hygiene and social distancing guidelines. The other key lesson learned from that experience, some say, is that home prices recoverAs the local stock market was down 4%, a constant stream of potential buyers poured into the salesroom behind Chan.
Transaction volumes hit three-month highs in February, when the outbreak was at its worst in Hong Kong and when other key economic indicators are expected to have hit record lows. Property agents said secondary market prices found support after falling as much as 8% in some developments. March volumes so far looked even better, they said.
Lower interest rates, which in Hong Kong move in tandem with US rates, and unprecedented government handouts are contributing to the buy-the-dip rush.