In response to the recent interest rate hikes announced by the US Federal Reserve and the Hong Kong Monetary Authority, Jones Lang LaSalle Hong Kong Chairman Joseph Tsang stated that major Hong Kong banks have not raised their prime rates in line with the US rate increase, meaning the move will have no immediate impact on the city's property market.

However, looking further ahead, if the rate hike cycle proves to be sustained, the commercial property sector would face more significant effects. Buyers would demand higher rental yields, potentially forcing owners to cut prices in order to complete sales.

On the residential side, the impact would be twofold: it would weaken buyers' affordability for mortgage repayments, while also increasing developers' financing costs. Some developers may accelerate the sale of their existing inventory to alleviate financial pressure, which could in turn dampen their appetite for land acquisitions.