Relevant:
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- Hong Kong Is World's Most Expensive Place to Buy Home on Property Shortage
- Hong Kong Increases Tax on Property Resold Within Two Years to Cool Market
- Hong Kong Retail Sales Plunge the Most in 17 Years
2017-05-30 — bloomberg.com
The Hong Kong Monetary Authority has been tightening rules for lenders, including restricting levels of lending to developers, as it tries to limit financial risks and take some of the heat out of the market. The Centaline Property Centa-City Leading Index of existing homes has advanced 23 percent in the past year, setting new price records week after week.
At a Legislative Council meeting on Monday, HKMA Chief Executive Norman Chan said levels of demand were reminiscent of 20 years ago -- before Hong Kong suffered a property bust -- and he expressed concern that people with limited financial resources were buying just because they thought prices would only keep going up.
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