Paul Chan: HK property market to become stable with relaxed macroeconomic control measures

Financial Secretary Paul Chan attended the Asian Financial Forum today (Jan. 14) and noted that the government is still assessing this year's economic growth forecast.

He described the IMF's projection of 2.7% GDP growth as reasonable, considering Hong Kong's status as a developed economy facing geopolitical challenges.

On the real estate market, Chan pointed out that property prices have dropped over 20% from their peak but are stabilizing, with recent weeks showing increased transactions. The government aims to ensure financial stability while relaxing macroprudential measures and cautiously promoting land supply.

With Donald Trump's inauguration approaching, Chan anticipated greater volatility in capital markets. He emphasized the need for financial stability, highlighting the importance of the U.S. and Europe as key trade partners. The Hong Kong government plans to strengthen ties with these regions while exploring new markets in the Middle East and ASEAN, with increasing visits by officials and business delegations. Chan also noted growth in exports to ASEAN countries alongside those to the U.S.

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