[ET Net News Agency, 7 September 2018] BofA Merrill Lynch said it has been expecting HK
residential property prices to correct by 10-20% in 2019-20 as mortgage rates gradually
rise.
A weak stock market, concerns over economic slowdown and more supply due to vacancy tax
may conspire to bring a correction to take place sooner, the research house added.
Recent news that some developers have raised sales agent commissions (some of which may
be rebated to buyers, hence suggesting a small price cut) seem to be another sign of
weakness, it noted.
All eyes will be on the outcome of new launches this weekend (with nearly 600 flats up
for sale). Response to LP6 in Tseung Kwan O (by Nan Fung), a mass market project, should
be a good gauge of end-user demand, BofAML said. (KL)
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00020 SENSETIME-W
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0.590 -0.030 (-4.839%) Others
07/09/2018 14:52
[I-bank focus]HK residential price correction looms - BofAML
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