Hong Kong’s property market continues to experience a significant downturn, with the latest figures from the Centa-City Leading Index (CCL) showing property prices hitting a near-seven-year low. In a concerning trend for the region, 2023 recorded the lowest number of property market transactions in 33 years.
This downturn coincides with a notable population decrease in nearby Pearl River Delta cities like Guangzhou, Shenzhen, and Dongguan, marking an unusual historical event. Analysts are interpreting this as an indicator of broader economic challenges in the Greater Bay Area.
