imf warns hong kong property faces price correction
Last Updated : GMT 09:53:06
Arab Today, arab today
Arab Today, arab today

IMF warns Hong Kong property faces price correction

Arab Today, arab today

Arab Today, arab today IMF warns Hong Kong property faces price correction

Hong Kong - AFP

The International Monetary Fund has warned that Hong Kong could see an abrupt fall in property prices after years of dramatic increases in one of the world\'s most expensive housing markets. Home prices in the Asian financial hub have skyrocketed 90 percent since 2009 due to an influx of wealthy mainland Chinese buyers, pushing home-ownership beyond the reach of many of its seven million people. \"The sharp run-up in house prices raises the risk of an abrupt correction,\" the IMF said in its annual review of Hong Kong\'s economy. \"A sharp price correction would lead to falling collateral values and negative wealth effects, which could trigger an adverse feedback loop between economy activity, bank lending, and the property market. \"The property sector is the main source of domestic economic risk,\" the Washington-based organisation said. It however said the chances of a price correction that is large enough to generate a major macroeconomic and financial consequences is \"fairly low in the near term\". It also said the city\'s government recent bid to slap new taxes on residential properties \"should help dampen housing demand\" but urged Hong Kong to ensure sufficient supply in order to boost home affordability. Hong Kong announced a 15-percent stamp duty on non-permanent residents and corporate buyers as well as a higher stamp duty on the resale of property within three years in late October in an attempt to rein in soaring prices. With the global economic weakness continuing to impact domestic economy, the IMF said it expects Hong Kong\'s economy to grow 1.25 percent this year, before rebounding to 3 percent next year. Hong Kong leader Leung Chun-ying had warned last week that the city needed to boost its housing supply and create more living space or risked losing its \"best and the brightest\" talents.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf warns hong kong property faces price correction imf warns hong kong property faces price correction

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

imf warns hong kong property faces price correction imf warns hong kong property faces price correction

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Saudis clear passenger flights

GMT 08:38 2017 Saturday ,25 November

Saudis clear passenger flights
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Heidy underlines works like “Seventh Neighbor”

GMT 13:59 2017 Thursday ,23 November

Heidy underlines works like “Seventh Neighbor”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday