Does Hong Kong’s housing market rebound need local owners to sustain it?

Home prices in the city have risen 10 per cent this year, but analysts warn investor-driven recovery may need local buyers to sustain it Jeremy Wong, a financial professional in his 40s who recently married, had hoped this year would finally be the right time to buy a three-bedroom home with his wife after prices corrected from their peak. Instead, the rebound had pushed their plans back by two to three years, he said, as they saved for a larger down payment rather than rely on their parents’ retirement savings. “It shocked me,” Wong said. “I knew prices generally follow the stock market, but I didn’t expect them to rise so quickly … the price now is too high to find a place.” Together, those buyers with stronger purchasing power have pushed prices higher much faster than many prospective homeowners expected.

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