27-02-2017, 01:12 PM
Hong Kong Property Market Sets New Records Despite Moves to Tame Prices
by Frederik Balfour
February 27, 2017, 5:00 AM GMT+8 Updated on February 27, 2017, 11:09 AM GMT+8
Hong Kong’s property market is setting new records, quashing attempts by the city’s leaders to tame surging home prices.
Existing home prices reached an all-time high in the week ended Feb. 19, according to the Centaline Property Centa-City Leading Index, which tracks sales of secondary homes. In another sign of buyer demand, two Chinese companies bid a record HK$16.9 billion ($2.2 billion) for a piece of waterfront land zoned for residential development.
“The market is hot right now,” said Wong Leung-Sing, associate director of research at Centaline Property Agency, citing demand from end-users and investors. “The government says interest rates will rise and the supply will increase, and there’s no need to buy now, but nobody believes that.”
More details in https://www.bloomberg.com/news/articles/...hot-market
by Frederik Balfour
February 27, 2017, 5:00 AM GMT+8 Updated on February 27, 2017, 11:09 AM GMT+8
Hong Kong’s property market is setting new records, quashing attempts by the city’s leaders to tame surging home prices.
Existing home prices reached an all-time high in the week ended Feb. 19, according to the Centaline Property Centa-City Leading Index, which tracks sales of secondary homes. In another sign of buyer demand, two Chinese companies bid a record HK$16.9 billion ($2.2 billion) for a piece of waterfront land zoned for residential development.
“The market is hot right now,” said Wong Leung-Sing, associate director of research at Centaline Property Agency, citing demand from end-users and investors. “The government says interest rates will rise and the supply will increase, and there’s no need to buy now, but nobody believes that.”
More details in https://www.bloomberg.com/news/articles/...hot-market