HK home prices, transactions slump amid poor sentiment
Wed, Feb 03, 2016 - 5:50 AM
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.
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...