Real Estate
An Early Warning Sign for the World's Priciest Homes Is Flashing Sell
- City’s real estate shares have lost as much as 20% from highs
- Past slumps have foreshadowed declines in the physical market
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A reliable leading indicator for the world’s least affordable housing market is sending a sell signal for the first time in three years.
Losses in the Hang Seng Properties Index on Thursday left the gauge of Hong Kong real estate stocks trading as much as 20 percent below its peak in January. Declines of that magnitude from major highs have preceded the last four downturns in Hong Kong home prices, data compiled by Bloomberg show.