Hong Kong Home Prices to Fall Up to 25%, Bank of America Says
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Hong Kong home prices will fall as much as 25 percent from their peak as housing supply increases and the possibility of rising interest rates grows, according to Bank of America Corp.’s Merrill Lynch unit.
Prices will drop 5 percent this year and another 15 percent in 2014, Raymond Ngai, a property analyst, told reporters at a briefing in the city today. He declined to give forecasts beyond 2014. UBS AG said yesterday that it expects prices to decline 5 percent in 2013 before dropping 15 percent to 20 percent next year.