H.K. Home Prices May Drop 10% Before Pick Up, StanChart Says
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Hong Kong home prices, which rose the most globally in the past year, may need to fall as much as 10 percent in 2012 before buyers are lured back, according to Standard Chartered Plc.
“Most people are on the sideline,” Benjamin Hung, chief executive officer of the bank’s local unit, said in an interview yesterday. “They are watching. They are waiting. In order for activities to go up, prices may have to come down to drive a little bit more interest.”