HK home prices, transactions slump amid poor sentiment
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Hong Kong
IN a city that saw demand propel property prices to a record last year, the estimate that transactions reached a 25 year-low in Hong Kong shows how quickly sentiment has turned.
Home prices have slumped almost 10 per cent since September and monthly sales in January fell to the lowest since at least 1991, according to Centaline Property Agency Ltd. Amid a spike in flexible mortgage rates this month and anaemic demand for new developments, the low transaction volume for January is the latest evidence that prices have further to fall.
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