China’s reopening should boost Hong Kong’s real estate market

China's reopening will boost many sectors in Hong Kong's real estate market: real estate service companies

With China reopening and Covid rules easing, the Hong Kong property market will be on the road to recovery in 2023, according to real estate consultancy Colliers Hong Kong.

The retail market in particular will get the “best benefit,” Hannah Jeong, head of assessment and advisory services at Colliers, told CNBC’s Squawk Box Asia on Thursday.

However, there are still some potential headwinds this year that could undermine Hong Kong’s recovery, Colliers said in his report latest report. These include ongoing geopolitical tensions and a possible global recession.

“We are more cautiously optimistic for 2023,” Jeong added.

“There will be various uncertainties from external factors, but the opening of the border is certainly the booster[s] for many other areas of the real estate market.”

Retail becomes first runner

Demand on the housing market is dampening China’s reopening should boost Hong Kong’s real estate market

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