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H.K. apartment sellers cut asking prices

Posted on 15 August 2011

Hong Kong home values, which have risen more than 70 percent in the past two-and-a-half years and outperformed stocks, are set for their biggest decline since Lehman Brothers Holdings Inc. collapsed in September 2008 as land supply increases and global growth slows.

Midland Holdings Ltd. and Centaline Property Agency Ltd., the Chinese city’s two biggest real estate agents, said home prices are being reduced by as much as 10 percent……………………………………….Full Article: Source

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