Hong Kong Home Prices to Fall Up to 15%, Walter Kwok Says
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Hong Kong property prices may fall as much as 15 percent by the end of the year, said Walter Kwok, former chairman of Sun Hung Kai Properties Ltd., the world’s biggest developer by market value.
Lukewarm demand at an auction on June 9 for a parcel of land near the Peak district, about a 10-minute drive from the Central business district, will lead to a softening of prices of finished properties, said Kwok in an interview in the western Chinese city of Chongqing on June 18.