A recent survey by HSBC reveals that one in six residents of Hong Kong are considering buying a home within the next five years. Notably, a third of these potential buyers are first-time entrants to the market.

With an estimated population, HSBC suggests that around 300,000 households are looking to purchase homes. This anticipated demand is expected to exceed the government’s housing supply plan, which includes 132,000 private units and 123,000 public units over the next decade.

The survey, which involved 3,170 Hong Kong residents aged 18 to 65, indicated that two-thirds of those likely to buy already own property. Among existing homeowners seeking to acquire a second property, 72% cited investment and passive income as their primary motivations. In contrast, about 31% of first-time buyers also expressed investment ambitions.

Confidence levels differ between existing homeowners and first-time buyers. A significant 62% of current homeowners plan to purchase a new property within the next two years. Meanwhile, over 60% of first-time buyers indicated that their decision will hinge on personal or family circumstances, such as marriage or the arrival of a new family member.