Hong Kong Builders Signal Prices May Fall as Luxury Sale Misses Estimates

SS says

I v said before - HK's Real Estate is NOT REAL

It will crash along with China and Australia.



http://www.bloomberg.com/news/2011-06-07/hong-kong-may-fetch-record-price-for-land-in-luxury-district-at-auction.html

Hong Kong’s developers yesterday signaled gains in home prices may slow further amid rising interest rates in China and the city, when they held back bids that exceeded surveyors’ estimates at a land auction.

Cheung Kong also bought a second site sold at yesterday’s auction. The 65,400-square-foot plot in the northern Yuen Long district fetched HK$300 million, beating the top estimate in a range of HK$130 million to HK$220 million.