27 Mar '17, 2am

HK property rebound may last years, says tycoon | Overseas

Sky-high property prices in Hong Kong are not expected to fall anytime soon. With growing property demand outweighing government curbs, Hong Kong’s richest man, Li Ka-Shing, expects the property rebound to last by up to two years, reported Bloomberg . Hong Kong saw home prices take a short-lived dip before rising again over the past year to record highs. In fact, the Centaline Property Centa-City Leading Index showed that existing home prices rose 17 percent from a low point a year ago. And while the government imposed higher stamp duties in November, excluding first-time local buyers, the curbs failed to cool demand as buyers flocked to newly built projects amid discounts and rebates offered by developers. “I cannot see how property prices would fall in the coming one to two years,” said the 88-year-old Head of CK Hutchison Holdings and Cheung Kong Property Holdings durin...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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