瑞銀表示，在高利率、房屋過剩的情況下，香港房價到2024年將下跌10%

Hello students! Today, we're going to talk about the housing market in Hong Kong. UBS, a financial institution, predicts that home prices will drop by 10% in 2024. This is due to high interest rates making it expensive to borrow money, and a surplus of unsold homes.

The Hong Kong Monetary Authority has been raising interest rates to match the US Federal Reserve's actions. This is to keep Hong Kong's currency stable compared to the US dollar. With the base rate now at 5. 75%, the highest in 16 years, and over 18,300 new homes unsold, developers might lower prices to get some cash flow.

UBS also expects more homeowners to end up in negative equity, where their home's value is less than the mortgage they owe. This problem is growing as prices fall. Even with recent tax cuts on home purchases, the market hasn't improved much. For example, a home in Yuen Long sold for much less than its original price. Developers are also less interested in buying land to build new homes, which could be a problem for Hong Kong's housing goals in the future.