http://www.bloomberg.com/news/2011-06-13/hong-kong-home-sales-tumble-after-government-raises-down-payments-on-loans.html
Sales at 10 of Hong Kong’s biggest private residential developments fell 58 percent at the weekend from a week earlier after the government raised minimum down payments and deposits for foreign buyers.
Buyers from overseas and other Chinese cities accounted for about a third of luxury home transactions in the first quarter of this year, according to Centaline.
Prices may drop 10 percent to 20 percent in 2012 and a further 10 percent in 2013 on rising rates, Andrew Lawrence, a Hong Kong-based analyst at Barclays Capital, said last week.
Sales at 10 of Hong Kong’s biggest private residential developments fell 58 percent at the weekend from a week earlier after the government raised minimum down payments and deposits for foreign buyers.
Buyers from overseas and other Chinese cities accounted for about a third of luxury home transactions in the first quarter of this year, according to Centaline.
Prices may drop 10 percent to 20 percent in 2012 and a further 10 percent in 2013 on rising rates, Andrew Lawrence, a Hong Kong-based analyst at Barclays Capital, said last week.
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