CK Asset Holdings and Sun Hung Kai Properties in Hong Kong have decided to reduce the prices of their new housing projects, as any interest rate increase is expected to affect the real estate market.

Hong Kong's CK Asset Holdings and Sun Hung Kai Properties have decided to reduce the prices of their new housing projects. Bloomberg News reported that the two companies offered discounts of more than 10% on some units in the Grand Jetty residential complex, according to the updated price list.

Bloomberg News reported that the two companies offered discounts of more than 10% on some units in the Grand Jetty residential complex, according to the updated price list.

According to Bloomberg data, prices in Hong Kong may fall for the rest of the year, which would reflect a nascent recovery in Hong Kong's real estate market, which posted its worst decline in more than a decade last year.

According to Bloomberg data, prices in Hong Kong may fall further during the rest of the year.