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Mass residential prices tipped to rise at least 10pc

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Kenneth Ko

MASS residential prices are expected to rise 10 per cent or more this year, according to a poll by the Society of Hong Kong Real Estate Agents.

Society president Michael Choi Ngai-min said most agents were optimistic about the mass residential sector, but were relatively divided about the future of the luxury market.

Nine out of 15 major estate agents polled are predicting mass home prices to grow 10 per cent over the year.

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Two tipped a rise of between 10 and 15 per cent, one expected five per cent and three expected no change at all.

Two of the agents surveyed predicted a fall of 10 per cent in luxury residential prices this year but four expected to see no change.

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Four agents predicted a rise of 10 per cent, four predicted a growth of between 10 and 15 per cent, and the remaining agent tipped a rise of between 15 and 20 per cent.

The agents were optimistic about the market for the territory's large housing estates and most forecast an increase in prices.

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