30 Sep '15, 5am

#singapore #property Hong Kong won’t relax cooling measures: The Hong Kong government h...

#singapore #property Hong Kong won’t relax cooling measures: The Hong Kong government h...

Comment E-mail to friend Bookmark & Share The Hong Kong government has no plans to remove its property cooling measures for now, despite warnings that residential prices could fall, reported the South China Morning Post . Investment bank UBS is among the latest to give out warnings that home prices could fall by up to 30 percent from now till end-2017. It based its forecast on the prospect of economic growth falling to one percent next year from 1.5 percent in H2 2015, and the unemployment rate rising to 4.5 percent from the current 3.3 percent. “Unlike past down cycles that were triggered by global economic shocks, we believe this round of price reversals will be triggered by a deteriorating local economy,” said Eva Lee, executive director and head of Hong Kong and China property research at UBS. “Thus, we think price drops may come more gradually and over multiple years....

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

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