BY the end of March, average home prices in Hong Kong will have recovered by between three and five per cent depending on size and location, according to one of the territory's leading real estate chains.
Average prices for luxury homes on estates in the New Territories' new towns will have edged up three per cent, according to Midland Realty chairman Freddie Wong Kin-yip.
Average prices for flats in urban residential estates would have rebounded by five per cent by the end of this month, he said.
He said the driving force behind the market recovery had been end-users taking advantage of lower prices to trade up to the lower end of the luxury sector.
'Demand in popular residential estates will remain constant, albeit diluted from time to time by developers' launching of uncompleted flats,' said Mr Wong.
'With end-users dominating the market, investors will lie low until improved returns are assured.'
