Hong Kong luxury home rents, which fell last quarter for the first time since mid-2009, may slump 10 percent next year as banks and hedge funds scale back amid the threat of a global recession, according to brokers including Jones Lang LaSalle Inc. and Colliers International.
“We’re definitely at that tipping point,” said Anne-Marie Sage, Hong Kong-based head of residential leasing at Jones Lang, the world’s second-largest commercial brokerage.
“We’ve began to see vacancies at the very top end of the market. The banking and the financial sector have basically stopped all movement.”
By Bloomberg
Monday, December 19, 2011
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment