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Hong Kong is showing signs of a housing correction, compounded by the US-China trade dispute and the first interest-rate increases for the city in over a decade.
The opening of the high-speed railway between Hong Kong and Guangzhou may assuage the housing crisis in the Chinese SAR.
Hong Kong private home prices fell for the first time in 29 months in August and are expected to soften further.
Housing prices in Hong Kong are the most overvalued and at the greatest risk of collapse, according to a report focused on 20 major cities.
A group of developers in Hong Kong are disputing suspicion that they are hoarding flats, an act anathema to the government’s efforts to address the housing affordability crisis.
Sources say the Hong Kong government has decided to impose a vacancy tax on property developers that hold on to completed units, RTHK reports.