Investors on Monday snapped up all 347 flats in a new project in Tuen Mun, ignoring the rise in prime rates, which marked the end of a 12-year low-interest rate environment in the world’s most expensive property market.
The sale came after data showed that Hong Kong’s home prices dropped for the first time in 28 months in August, vindicating recent forecasts by four investment banks that the surge in the city’s home prices would stop soon.
Hong Kong home prices drop –…
Source : South China Morning Post
Read more…Hongkongers addicted to property as eager buyers snap up first launch after prime rate rise
