The tariffs war news is constantly changing, with alternating tax hikes and cuts, leaving investors overwhelmed. Investment vehicles such as stocks and foreign exchange fluctuate daily, making it challenging for investors to navigate the market.

Financial market turmoil has drastically reduced real estate transactions, especially second-hand properties prices, which have plummeted. The transaction price per square foot (psf) of a two bedroom unit on the lower floor of Jubilee Garden in Fo Tan decreased from HK$9,585 to HK$7,765 psf within a week, representing an 18% drop. Similarly, the price per square foot of a two bedroom apartment in Hong Kong Parkview on Hong Kong Island's luxury residence dropped from HK$27,000 last year to HK$17,000 psf this month, indicating a 38% decrease.

The price per square foot of a semi new property at Royal Cove in Tuen Mun reduced from HK$13,000 to HK$18,000 in March to HK$8,000 in April, a decrease of over 38%. Additionally, the other semi new 348 square foot one bedroom unit at The Arles in Fo Tan has been foreclosed. The auction house set the starting price at HK$4.69 million, representing 42% lower than the transaction price of HK$8.1 million in 2021.

The recent decrease in prices of second-hand properties can be attributed to several factors. Firstly, landlords who have owned their properties for over 20 years are selling at lower prices due to concern about the property market's future. Additionally, there has been a significant increase in foreclosed properties. Financial institutions have reduced prices to sell these properties quickly and minimize losses. 

The worsening economic environment is leading to more foreclosures, causing significant drop in public sales prices. Consequently, second-hand properties prices will sharply decline. Buyers of units in estates with foreclosed properties may see a 10-20% loss in one month.