China Property News

Property price growth in Hong Kong slowing

by Ray Clancy on April 17, 2013

Property bubble burst warned by think tank

Property price growth in Hong Kong slowing

Price growth in the residential property market in Hong Kong has slowed as measures designed to cool the market take hold. Data from the Land Registry shows that residential transaction volume slumped 28.1% month on month, with only 4,534 sales recorded in March. Price growth in the luxury and mass residential sectors was a mere 0.6% and 1.2%, respectively, in the past month.

The measures imposed by the Hong Kong government to cool down investment activity are resulting in more people renting, according to analysts from international property firm Knight Frank. But it does not expect prices, especially at the higher end of the market, to fall too much. [click to continue…]

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