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Monday, March 17, 2014

Dark clouds over Hong Kong's property market as 'perfect storm' looms

http://www.scmp.com/property/hong-kong-china/article/1444716/dark-clouds-over-hong-kongs-property-market-perfect-storm

Hong Kong's housing market faces being caught in the middle of a perfect storm, with government curbs having crimped demand at a time of increasing supply and an imminent interest rate rise threatening to set off a severe price correction.
Home prices in the second-hand market peaked at 18 per cent above the previous 1997 high in March last year after doubling since 2008, but have since fallen 5 per cent in a sign the government's tough stance on reining in an overheated market is having the effect desired by Chief Executive Leung Chun-ying.

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