Sep
06
Hong Kong Home Prices May Begin to Drop in 2016: JPMorgan
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Second-hand housing prices will increase 10% this year
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Slowing growth in China to drive correction in property prices
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 percent to 10 percent annually starting in 2016,Cusson Leung, head of Hong Kong research, conglomerates and property for JPMorgan, said in a briefing on Friday. Prices of new homes will rise by 5 percent in 2015, as demand remains strong. Prices of existing housing will increase by 10 percent, according to Leung…