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ian_g

Hong Kong

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Been following this website for many years and left the UK to work in Asia as, like many on here, I couldn't face 25 years of debt for an overpriced asset.

I actually live in Taiwan, working and saving for my eventual return, but this caught me eye yesterday so thought I would share.

Hong Kong property sales are down 60 percent from a year ago, providing the first clear evidence that new government policies are slowing down one of the world's hottest markets.

The Hong Kong Lands Registry recorded about 4,400 sales in April, worth a total of $4 billion, a 48 percent decrease from the year before, CNN reports.

http://www.worldpropertychannel.com/asia-pacific-residential-news/hong-kong-property-sales-hong-kong-lands-registry-midland-realty-luxury-homes-6830.php

The banks raised rates back in March by about half a percent, obviously having an effect.

http://www.bloomberg.com/news/2013-03-21/hong-kong-homes-face-20-price-drop-as-banks-raise-rates.html

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Thanks for this. Can't help thinking this has a lot to do with what's happening on the mainland. Wheels may not yet have come off the Chinese economy but they're certainly running eccentricly.

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Thanks for this. Can't help thinking this has a lot to do with what's happening on the mainland. Wheels may not yet have come off the Chinese economy but they're certainly running eccentricly.

Nope. It is mainly due to HK government policies.

I am wondering if those investors will now flock to London..

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It is a nice start, but if prices even drop by as much as 20% (currently not even 5%), then it would be no more than a healthy drop, so really nothing here to get excited about.

We have seen these price increases in many parts of Asia and it is that governments finally start to realise that this so called 'feel good factor' is simply starting to drag companies away.

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Thanks for this. Can't help thinking this has a lot to do with what's happening on the mainland. Wheels may not yet have come off the Chinese economy but they're certainly running eccentricly.

I think you'll probably find that a 15% stamp duty for all foreign buyers is probably fuelling this.

Imagine if Osborne had the guts to do this for foreign speculators in the UK, but I keep forgetting that rising prices are "good news" for everyone and foreign buyers purchasing property actually "help" renters by providing a "service" :lol:

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  • 243 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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