Hong Kong 's housing market will take a rapid downturn in the next few months , according to Moody 's Financial Service . “Hong Kong’s property market is having its worst combination of fundamentals in 15 years with rising interest rates, a slowing economy and a depreciating Rmb (Renminbi),” CLSA analyst Nicole Wong said in the report. The credit rating agency estimates that house prices and sales will drop 15 % over the next 12 - 18 months , following the predictions of investment bank CLSA , as well as Citibank and UBS . The forecast is based on emerging data from the secondary market of 15 - 20 % rent cuts which could eventually trigger similar discounts in the primary market . The expensive property market is a pillar of Hong Kong 's economy , but the latest statistics put it in its worst shape in 15 years .
Hong Kong 's housing market will take a rapid downturn in the next few months , according to Moody 's Financial Service . The credit rating agency estimates that house prices and sales will drop 15 % over the next 12 - 18 months , following the predictions of investment bank CLSA , as well as Citibank and UBS . The forecast is based on emerging data from the secondary market of 15 - 20 % rent cuts which could eventually trigger similar discounts in the primary market . The expensive property market is a pillar of Hong Kong 's economy , but the latest statistics put it in its worst shape in 15 years .