Thanks, it does look like an aircon hose. The other end attached to the area with the white stuff that looks like a teflon sealant for pipes. It is within the area of the orange circle just a few centimeters from the tip of the detached hose.
I traced some of the pipes attached to the hose and it does look like its attached to the condenser.
I was mistaken, as it turns out it is the bypass hose of the radiator. This means that the radiator is losing water slowly. I need to have it fixed sooner rather than later. Thanks everyone!