CBRE: Hong Kong banks are relatively likely to raise their prime rates; the residential market is expected to enter a consolidation phase in the second half of the year.

Zhito Finance APP has learned that the Hong Kong Monetary Authority, following the Federal Reserve's 0.25% rate hike, raised its base rate by 25 basis points to 4.25%, in line with the Federal Reserve's tightening measures. Zheng Haiyan, Head of the Valuation and Advisory Services Department and Executive Director at CBRE Hong Kong, believes that the current focus of Hong Kong's residential market is whether banks will raise their prime rates in tandem after the HKMA increased the base rate by 25 basis points.