More than 70% of the respondents said it is not a good time to purchase a home now

HONG KONG, CHINA - Media OutReach - 18 July 2019 - Citi HongKong announced today the results of its survey on residential propertyownership in Hong Kong for Q2 2019. The survey found that over 70% of the respondents felt that it is a bador terrible time to purchase a home now. The expectations of the respondents onthe trend of home prices are similar to those in the previous quarter. Many localresidents are expecting a rise in home prices in the next 12 months. Respondents'interest in home purchase has not been completely affected, with a quarter ofrespondents expressing a very or rather strong interest in buying a propertynow.

More than 70% of therespondents said it is not a good time to purchase a home now

71% of the respondents felt that it is a bad or terrible time topurchase a home in Q2 2019. More than 70% of the young respondents aged between21 and 29 felt that it is not a good time to purchase a home. 2% of therespondents in Q2 2019 felt that it is a good or excellent time to purchase ahome, down from 4% in Q1 2019.

Base: All Respondents

Respondents'expectations on the trend of home prices are similar to those in the previousquarter

The expectations oflocal citizens on the trend of home prices have reversed in Q1 2019. Morerespondents are expecting that the home prices in Hong Kong will rise in thenext 12 months. The expectations of the respondents on the trend of home pricesin Q2 2019 are similar to those in the previous quarter, with 28% of the respondentsexpecting the home prices to fall in the next 12 months, while 36% of themexpecting the home prices to rise in the next 12 months.

Base:All Respondents

Nearly a quarter of young respondents are stillinterested in purchasing a home

Many local citizens are expecting a rise in home prices in the futurewithout completely affecting the interest of respondents in buying homes. 25%of the respondents expressed a very or rather strong interest in buying aproperty in Q2 2019, still representing a high percentage in recent years. Nearlya quarter of the respondents aged between 21 and 29 have the same interest.

Base:All Respondents

Josephine Lee, Head of Retail Bank, CitibankHong Kong, said, "The results show that many local citizens are expecting thatthe home prices will continue to rise, they still have certain interests inbuying a home. We recommend that potential home buyers should first measuretheir home affordability, comprehensively assess their financial situation andburden, and choose a suitable mortgage plan."

Citibank commissioned The University of Hong Kong Social SciencesResearch Centre to conduct the survey, interviewing over 500 Hong Kongrespondents by phone in June 2019. Since 2010, Citibank has conducted a quarterly survey on the housingmarket to assess the current state of homeownership in Hong Kong, gauge public opinion on thesubject of homeownership and public expectations in terms of future housing pricetrends.

Source: Citibank Q2 2019Residential Property Ownership Survey