Hong Kong private home prices slipped for a fifth consecutive month in October a...
- Hong Kong private home prices slipped for a fifth consecutive month in October as the Asian financial hub grapples with its biggest political crisis in decades, although the pace of decline slowed.
October prices dropped 1.3% in one of the world’s least affordable property markets compared with a revised fall of 1.7% in September, government data showed on Friday. Aiming to support first-time home buyers, the government last month relaxed rules, allowing them to borrow as much as 90% of a home costing up to HK$8 million .
Knight Frank also expects a planned vacancy tax will prompt developers to dispose of unsold stock at attractive prices for the remainder of 2019.
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