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HK home prices, transactions slump amid poor sentiment
Hong Kong's property market has been showing signs of weakening amid a rising supply of homes, higher short-term interest rates and slowing growth in China. After 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.
PHOTO: BLOOMBERG
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...
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