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HONG KONG: The Hong Kong property market has risen too fast and buyers must look out for a bubble, according to Justin Chiu Kwok-hung, Cheung Kong (Holdings) executive director. "The rise is a bit unusual," Chiu said on Feb 8. "There should be a correction at some point."
Last month, Cheung Kong forecast luxury home prices may rise 15% this year and those for new mass-market residences may climb 15% to 20%.
Prices rose about 40% from June to January. Buyers must not expect the same pace of growth in prices this year, Chiu said. – South China Morning Post
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