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Property

Hong Kong property market faces slow recovery after COVID hit

Weak economy, rate hikes, virus restrictions hurt chances for quick rebound

A residential development in Hong Kong: The world's most expensive property market is taking a hit from tough COVID-19 restrictions that have depressed sales.   © Reuters
PAK YIU, Nikkei staff writer | Hong Kong

HONG KONG -- Hong Kong's virus-hit property market is unlikely to rebound quickly, as the financial hub grapples with a weak economy and while rate hikes and travel restrictions dent demand, analysts say.

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