The Hong Kong Rating and Property Valuation Department announced that the private residential property price index rebounded 0.35% month-on-month to 285.7 in April, ending four consecutive declines. Guo Weiyan, executive director of CBRE Hong Kong Valuation and Advisory Services, said that with the fall in Hong Kong interbank interest rates in May, positive interest spreads for residential properties have once again become apparent. The cost of housing is lower than rent, which may attract users and rent-takers to gradually enter the market. If the trend continues, the property market may recover. However, he said that although property prices are expected to bottom out and stabilize, he believes there will be no sharp rise this year. Currently, developers' primary consideration is still cleaning up the increasing number of cargo units. It is expected that some developers will seize the opportunity to ship, while developers with stable financial conditions are in a position to reduce concessions.

The Hong Kong Rating and Property Valuation Department announced that the private residential property price index rebounded 0.35% month-on-month to 285.7 in April, ending four consecutive declines. Guo Weiyan, executive director of CBRE Hong Kong Valuation and Advisory Services, said that with the fall in Hong Kong interbank interest rates in May, positive interest spreads for residential properties have once again become apparent. The cost of housing is lower than rent, which may attract users and rent-takers to gradually enter the market. If the trend continues, the property market may recover. However, he said that although property prices are expected to bottom out and stabilize, he believes there will be no sharp rise this year. Currently, developers' primary consideration is still cleaning up the increasing number of cargo units. It is expected that some developers will seize the opportunity to ship, while developers with stable financial conditions are in a position to reduce concessions.