Property market still haywwiring.....

[I_Hate_Pappies]

Really? If that's the case the cooling measures have inflated the price instead of cooling the market. More $ for Ho Jinx to punt! :oIo:

 

[borom]

HK home prices will fall 25% due to govt curbs, says report
[HONG KONG] Hong Kong home prices will fall as much as 25 per cent after the government stepped up measures to curb an asset bubble and as banks raised mortgage rates, according to Sanford C Bernstein H K Ltd.

The number of new apartment sales will "remain largely subdued" with developers shifting their focus to cheaper and smaller units to boost sales, analysts led by Kenneth Tsang wrote in a report yesterday.

An index tracking home prices dropped the most in almost three years in the week ended April 14 after the government introduced its toughest yet measures to cool prices on Feb 22. Prices could fall as much as 20 per cent over the next two years, Deutsche Bank said in a report last month.

Cheung Kong Holdings, which last month lowered prices by almost 10 per cent at a project in response to the government curbs, may introduce more price cuts to boost sales, said the Bernstein analysts. The builder is controlled by Li Ka-shing, the city's richest man.

The analysts assigned an underweight rating to Hong Kong developers and are advising investors to sell Henderson Land Development because of its "strong competition with Cheung Kong", and Sino Land Co, which has "large exposure in larger units within its own portfolio".

Home prices fell 1.41 per cent in the week ended April 14, the fourth straight weekly decline, according to an index compiled by Centaline Property Agency, Hong Kong's biggest closely held realtor. It was the biggest drop since May 2010.

Before February's measures, a housing shortage, low mortgage costs and buying by mainland Chinese helped prices more than double since the start of 2009
http://www.businesstimes.com.sg/spe...l-fall-25-due-govt-curbs-says-report-20130423

If this govt is serious in lowering property prices, it could have easily done so by increasing mortgage rates.
Vote wisely and do not elect a bunch of people who makes you into slaves of high property prices and 3rd class people in your own country.