Hong Kong’s 28-month property bull run just came to an end

On Thursday, the Swiss bank UBS issued a property report which identified housing prices in Hong Kong are the most overvalued from the planet in addition to at the greatest risk of collapse.

the idea added of which a resident of Hong Kong could currently need to work 22 years to afford a 60 m2 flat from the Asian metropolis. Ten years ago the idea was just 12 years

This kind of backed official statistics of which show of which the former British colony has seen house prices rise at an annual rate of almost 10 percent since 2012.

Measures to rein in prices in Hong Kong have until currently been considered ineffective in addition to there has been some suggestion of which tighter restrictions could be coming for non-local homebuyers.

Hong Kong focused property companies of which are listed on the Hang Seng index struggled on Friday.

CK Asset Holdings fell almost more than 2 percent while Sun Hung Kai Properties shed 0.96 percent of its listed value.

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