Hong Kong Property Market Dodges Fed Rate Hike Impact

Hong Kong’s property market dodged an immediate hit from the Federal Reserve’s rate hike on Thursday as major local banks kept their prime rates unchanged, but another increase could puncture the market’s relatively fragile recovery, according to industry insiders.

The decision should have no immediate impact on the local property market, said Joseph Tsang, chairman of JLL Hong Kong. “However, the market outlook depends on whether US rate hikes will continue.”