Hong Kong Home Prices Predicted to Dip 5 Percent or More in 2019
Knight Frank | September 06, 2019
Hong Kong's current political crisis and economic uncertainty could make almost anyone despair for the future of the property market in this Special Administrative Region of China. But Georg Chmiel, Executive Chairman of Juwai.com, believes things are less serious than they seem. Mr. Chmiel said, "First, a bit of context. 2018 was a boom year for Hong Kong's residential real estate market. The city once again earned the title of "world's most overvalued housing market." That is because average prices are so high relative to average income.