HK govt curbs housing speculation
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Hong Kong’s house prices have continued to rise, but at a slower pace following intense government efforts to curb speculation. Property transactions are starting to fall, and demand from foreign buyers is decreasing.
Property prices were up 20.6% from a year earlier in August 2010, according to the Ratings and Valuation Department (RVD). Adjusted for inflation, house prices rose 17.2%. Though double-digit house price increases continue, the rate of growth has noticeably eased since March 2010, when house prices rose by 31.3% from a year earlier.
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