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Tuesday, August 3, 2010

HK property prices set to rise another 15pc

HONG KONG: Hong Kong home prices will rise another 15 per cent in the next 12 months as limited supply forces buyers to pay more for property that’s already expensive, CLSA Ltd’s Nicole Wong said.

Prices will increase because the city’s promising job market and growing wealth will help drive demand for real estate while supply doesn’t increase much, Wong, the regional head of property research for CLSA, said at a media briefing yesterday .

“Is Hong Kong real estate too expensive? Definitely,” Wong said.

By Bloomberg

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