| From Forbes: Hong Kong property stocks slid for a second day in a row on Tuesday, as mortgage rate rises deepened gloom over the city's housing market, with new apartment sales slowing to a trickle.
A spike in Hong Kong's interbank rate, as the money market was sapped of liquidity, prompted HSBC to hike its mortgage rate in the city by 50 basis points on Monday and other banks were set to follow suit. The move jolted many analysts into changing their tune on the Hong Kong property market, with prices now tipped to drop by anywhere between 10 and 20 percent in the next year..... Full Article: Source
|