2024 Hong Kong property slump resembles 1997 crisis, with potential 8% rent increase.

2024 Hong Kong property slump mirrors 1997: Hong Kong's current property slump is reminiscent of the 1997 Asian Financial Crisis for veteran investor Raymond Tsoi, who lost HK$4m in 1998 due to collapsing asset prices. Meanwhile, rising demand from students and talent immigrants may cause rents to soar by 8% this year, potentially reaching record levels, according to Midland Realty.

July 27, 2024
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