The one-month Hong Kong Interbank Offered Rate (HIBOR), which affects mortgage rates, hit a low of 0.59 percent on May 23, falling below 1 percent for the first time in nearly three years.
The rate change triggered discussion on whether Hong Kong housing prices could bottom out and rebound after having fallen nearly 30 percent from their peak over the past few years, as it will reduce mortgage interest rates, easing pressure on homeowners, which could lure funds to return to the local property market.
