HK property prices may correct next year: JPMorgan
Residential prices may start to fall by 5-10 per cent annually from 2016
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Hong Kong
HONG Kong's property prices may correct next year after reaching a record high, as an economic slowdown in China and Hong Kong starts to weigh on real estate, according to JPMorgan Chase & Co.
Residential prices may start to fall by 5-10 per cent annually starting in 2016, Cusson Leung, head of Hong Kong research, conglomerates and property for JPMorgan, said in a briefing last Friday. Prices of new homes will rise by 5 per cent in 2015, as demand remains strong. Prices of existing housing will increase by 10 per cent, according to Mr Leung.
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