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Interest rates

Staff work at a real estate agency in North Point on October 29, 2024. Photo: Eugene Lee

Hong Kong home prices to bottom out in short term after rate cut: analysts

Unexpected prime-rate cut by local lenders seen bringing more buyers into market, shoring up prices.

3 hours ago

HSBC, 5 other Hong Kong banks cut interest rates to lowest in 2 years

5 hours ago

Fed rate cut gives China room to move as Beijing eyes more economic stimulus

8 Nov 2024 - 9:14AM

Hong Kong’s base interest rate drops to 5% in second cut

Together with the half-percentage-point cut in September, Hong Kong’s key rate has now fallen back to February 2023’s level.

8 Nov 2024 - 11:06AM

View of Hong Kong from the Hong Kong Monetary Authority (HKMA) headquarters at IFC in Central district on October 9, 2024. Photo: May Tse

US Federal Reserve eases rates with quarter-point cut

Fed chairman Jerome Powell is expected to be questioned on Thursday about economic impact of Trump’s US election victory.

8 Nov 2024 - 6:53AM

Wall Street stocks, bitcoin, US dollar soar following Trump win

However, concerns about inflation and higher interest rates emerged, leading to a decline in Treasury bond prices and European stock markets.

7 Nov 2024 - 7:42AMvideocam

Mainland Chinese buyers rush into Hong Kong property, agents say

Home purchases by mainland buyers surged 69 per cent in the first nine months of the year, accounting for nearly a quarter of transactions.

4 Nov 2024 - 8:30AM

Home shoppers flock to a sales office of Blue Coast II, Phase 3C of The Southside, developed by CK Asset in Wong Chuk Hang, at Fortune Metropolis in Hung Hom on October 19, 2024. Photo: Jonathan Wong

Standard Chartered to focus on wealth business, sell units after upbeat earnings

Net profit for the June to September period handily beat analysts’ estimates of US$886 million.

30 Oct 2024 - 3:42PM

Hong Kong home prices fall to their lowest since 2016, but rents rise

Secondary home prices fell 1.7 per cent in September, while rents rose 0.1 per cent month on month.

29 Oct 2024 - 4:20PM

Hong Kong’s office market to trail recovery in residential, retail properties

Reports of brisk weekend home sales show the housing market will outpace offices in recovery going into 2025, consultancies say.

29 Oct 2024 - 8:30AMvideocam

Hong Kong’s office skyline in Central in February 2024. Photo: Sun Yeung

Hong Kong property: Chinachem’s Cheung Sha Wan project sells out

The developer found buyers for all 198 units in the project, agents said.

27 Oct 2024 - 8:30PM

Property agents and buyers gather at Chinachem’s sales office for a chance to buy flats in Echo House on Sunday. Photo: Elson Li

Hey big spender! Hong Kong transacts 3 luxury homes in a week

Two big deals recorded in Mid-Levels, another one on the books in Happy Valley.

25 Oct 2024 - 7:00PM

Hong Kong developers to feel earnings pain amid high vacancy rates: Moody’s

Moody’s says office and retail property segments are likely to remain under pressure.

24 Oct 2024 - 6:32PMvideocam

HKEX’s third-quarter profit rises 7% on IPOs, turnover

Funds raised from IPOs in the June to September quarter reached HK$42.2 billion, six times higher than a year earlier.

23 Oct 2024 - 5:07PMvideocam

Hong Kong Exchanges and Clearing is the operator of the third-largest market in Asia. Photo: Edmond So

Editorial | China property push reflects need to raise consumer confidence

The cut in the key reference rate for mortgage loans may have been expected, but it shows monetary policy is squarely aimed at fighting deflation.

23 Oct 2024 - 5:27AM

A man walks by residential buildings in Beijing. Photo: Reuters

Hong Kong religious group sells US$14 million in property as home market perks up

Jehovah’s Witnesses group has sold 16 units in Tseung Kwan O since July – 11 of them after banks cut interest rates in September.

22 Oct 2024 - 4:46PM

Hong Kong property developers lift prices as sentiment improves

Chinachem Group, the developer of Echo House, has raised the price of the second batch of 50 flats by about 4 per cent amid a surge in interest.

22 Oct 2024 - 10:02AM

‘Encouraging sign’ as China cuts mortgage rate, but heavy lifting still needed

Five-year loan prime rate lowered from 3.85 per cent to 3.6 per cent, the People’s Bank of China said on Monday.

21 Oct 2024 - 6:20PMvideocam

An agent attends to a customer near a scale model of residential buildings at a property fair in Shenzhen, Guangdong province. Photo: Reuters

Hong Kong has more tools to revive, enhance property market: analysts

Robust home sales from first post-stimulus weekend suggest recent tweaks are beginning to inject confidence in the market.

21 Oct 2024 - 8:54AMvideocam

As global debt nears US$100 trillion, IMF urges action

International Monetary Fund economists warn that failure to address rising debt could lead to ‘significant spillovers’ for the world economy.

20 Oct 2024 - 1:06PM

China’s central bank to cut reserve ratio, bolster property and capital market

People’s Bank of China governor Pan Gongsheng spoke at the Financial Street Forum in Beijing on Friday.

18 Oct 2024 - 5:36PMvideocam

Pan Gongsheng, governor of the People’s Bank of China, speak during the Financial Street Forum in Beijing on Friday. Photo: Handout

Hong Kong eases mortgage lending restrictions to jump-start market

HKMA allows buyers to borrow up to 70% of a property’s value, with the aim of reviving the market where prices have declined by 6.2% in the year’s first eight months.

16 Oct 2024 - 7:37PMvideocam

A slogan encouraging property purchases based on the latest policy address is posted at a real estate agency in Mong Kok. Photo: Elson Li

Data centres push Asia’s cross-border property investment towards 2-year high

Anticipated growth of 50 per cent will drive 2024 cross-border investments to about US$48 billion, according to Knight Frank.

16 Oct 2024 - 3:56PM

Chinachem to sell Hong Kong flats at 2016 levels as recovery proves elusive

Developers still need to offer discounts as market purchasing power is still not sufficient, according to Martin Wong at Knight Frank.

15 Oct 2024 - 7:36PMvideocam

From Fila to Armani, brands snap up prime Hong Kong retail spaces

With rents as much as 65 per cent below historical highs, brands from Europe, the US and Japan see a chance to make a splash.

14 Oct 2024 - 8:30AM

Hopewell Mall in Wan Chai, set for a soft opening next month, and will have an occupancy rate of more than 90 per cent. Photo: Handout

Sun Hung Kai’s Cullinan Sky sees another weekend of brisk sales

Quantitative easing and a slew of economic stimulus measures from Beijing have increased buyer confidence, agents say.

12 Oct 2024 - 8:15PM

Potential homebuyers look at a model of the Cullinan Sky Phase 1 at Sun Hung Kai showroom. Photo: Handout

Leading Hong Kong developer prices flats at 20% below development cost

Li Ka-shing’s flagship developer has priced the first batch of flats at an average of HK$21,526 per square foot, below the HK$28,000 development cost.

10 Oct 2024 - 5:00PM

Hong Kong consumers struggle with bills and loans despite rising incomes: study

Rising incomes in Hong Kong are not easing financial stress, with 25 per cent of people unable to pay bills fully.

9 Oct 2024 - 4:30PM

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Interest rates

An interest rate is the amount charged by banks to borrowers for any loan, which is a percentage of the principal. It is an important monetary tool for central banks to control inflation and boost economic growth. The Hong Kong Monetary Authority maintains its official base rate in lockstep with the US Federal Reserve because the Hong Kong dollar has been pegged with the US currency since 1983. Hong Kong commercial banks can decide when to change their prime lending rate and deposit rate, which may differ in terms of timing and margin of change.

last updated:

2 October, 2024