[HONG KONG] The International Monetary Fund (IMF) said yesterday Hong Kong property prices were set to see adjustments following years of boom.

The city's housing market has become one of the most expensive in the world - prices have more than doubled since 2008 - due to an influx of capital from the mainland and record low interest rates thanks to US quantitative easing.

Housing affordability has become a thorny issue for the Hong Kong government, with officials forced to introduce a series of measures to curb rising prices.