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Feb

01

Hong Kong Property Slump Worries Investors

By Tony Seruga

Workers labor behind protective netting at the construction site in Hong Kong. Home prices have slumped almost 10 percent since September and monthly sales in January fell to the lowest since at least 1991, according to Centaline Property Agency Ltd.

Photographer: Lam Yik Fei/Bloomberg

Deutsche Bank’s Spencer says developers missed chance to sell
Low home sales are latest evidence prices may fall further

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 percent since September and monthly sales in January fell to the lowest since at least 1991, according to Centaline Property Agency Ltd. Amid a spike in flexible mortgage rates this month and anemic demand for new developments, the low transactions volume for January is the latest evidence that prices have further to fall…

Hong Kong Property Slump Worries Investors

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