Among the respondents, over a quarter believed that the continuous rise in interest rates is the most significant influencing factor on the development of the property mortgage market in 2024. This aligns with the main attraction for nearly 70% of property buyers – the decline in property prices, taking advantage of the market at a low point.

Moreover, nearly 60% of property buyers are considering purchasing second-hand properties, while 40.6% are interested in buying new properties. Concerning property prices and mortgages, over 60% of individuals prefer properties priced at ≤HKD 6 million, and over 70% plan to apply for high loan-to-value mortgages.

However, with the potential interest rate cuts by the U.S. Federal Reserve, it is expected that Hong Kong's interest rates may follow suit. Simultaneously, further economic recovery and stabilization of property prices will increase the confidence of potential buyers, expediting their entry into the market.

The total number of existing property mortgages is expected to grow by approximately 10% to reach 83,000 cases for the entire year, while new property mortgages are expected to increase by nearly 50% to reach 2,400 cases.

The future trajectory of the Hong Kong property market remains uncertain over the coming months. However, based on economic recovery and potential interest rate changes, it is predicted that the property market will show signs of stabilization. In this scenario, buyers may consider paying closer attention to second-hand properties while also remaining vigilant for potential regulatory measures by the Hong Kong government.