Kinght Frank says ‘home prices across the world will face the challenges brought by [higher] interest rates and inflation’In Hong Kong, home prices are expected to drop by up to 5 per cent over 2023, according to report Global house prices rose at their slowest pace in the first quarter of 2023 year-on-year since the same period in 2015, and remain under pressure across the world, as central banks continue to tighten policy to rein in inflation.

Global house prices rose at their slowest pace in the first quarter of 2023 year-on-year since the same period in 2015, and remain under pressure across the world, as central banks continue to tighten policy to rein in inflation, according to a report by Knight Frank.

The first cuts in interest rates may now be delayed until the second half of 2024 for several key markets, leading to fewer transactions and reduced market liquidity for 12 months or more, the consultancy said in a report released on Wednesday.

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