The UK-listed bank gave an upbeat view of Hong Kong's property market, which has faced headwinds from government price-cooling measures and a recent hike in interest rates.

Hong Kong’s home prices are unlikely to see significant falls because of robust demand, even though interest rates in the jurisdiction have risen, Standard Chartered is reported to have said.

Prices in Hong Kong fell 5.5 per cent in the 12 months to the end of September 2016, according to real estate consultants Knight Frank earlier this week. By contrast, Nanjing, in China, saw a whopping 43 per cent rise over the same period.

More than a week ago, the US Federal Reserve hiked interest rates; the Hong Kong Monetary Authority, the jurisdiction's de-facto central bank, followed suit immediately because the Hong Kong dollar is pegged to the greenback. Hong Kong authorities have also taken steps in recent year to curb property prices to prevent overheating and over-leverage.

May Tan, chief executive in Hong Kong for Standard Chartered, is reported by the South China Morning Post as saying: “I can’t see Hong Kong’s property prices falling too much considering the demand and supply, and mainland investors are still buying overseas assets."

Tan is quoted saying that there is little room for the bank to offer more preferential mortgage rates. However, she is relatively optimistic about the property market as she said investors are still seeking to allocation assets to properties which offer reasonable return on investment.

Hong Kong increased stamp duty on property transactions, taking effect from 5 November.