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Hong Kong office prices, down by half, may rebound

Posted on 18 June 2009

From Bloomberg: Hong Kong city-center office prices, down by almost half since Lehman Brothers Holdings Inc.’s collapse, may rise 34 percent this year, as speculators bet on local economic recovery, CB Richard Ellis Group Inc. said.

The average price of prime office units in the Central business district may rise to HK$13,000 ($1,680) a square foot by year-end from HK$11,167 in May as rich individuals seek alternative investments to stocks and bank savings, Benedict Ma, an analyst at CB Richard Ellis, said in an interview yesterday………Full Article: Source


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