Despite a slew of measures aimed at damping down Hong Kong’s runaway home prices, some segments of the market are heating up again, potentially spurring further tightening measures.
“House price momentum is again leading to growth in household indebtedness, raising the risk of further government cooling measures,” Andrew Lawrence, an analyst at CIMB, said in a note last week.
He noted that small-unit prices are now 4.5 percent above where the government last introduced cooling measures, although larger properties of above 700 square feet remain below their 2013 peaks.
“Rapidly rising prices are once again putting pressure on potential homebuyers to get into the market as well as encouraging sellers to delay and ask for higher prices,” he said. “High home costs are adding to social concerns and should recent capital inflows end up on bank balance sheets, lower mortgage rates could add further momentum to the market.”
via CNBC
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