Hong Kong Home Risks May Exceed ‘97 on Rising Rates
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Risks in Hong Kong’s property market may exceed those in 1997 if falling prices coincide with rising interest rates, Hong Kong Monetary Authority Chief Executive Norman Chan said.
The property market has been rising “quite rapidly” and may collapse if prices keep going up, the Ming Pao Daily cited Chan as saying in an interview. Chan’s comments were confirmed by HKMA spokeswoman Anissa Wong.