The Jury's Out on Whether Hong Kong's Property Blip Is History
(Bloomberg) -- Is Hong Kong’s property correction already over?
For two months now, prices have climbed. New home sales are surging.
To the bulls, a 10 percent slide in home values from August to January looks to have been just another periodic blip in a market that has climbed relentlessly for 15 years.
Diminished prospects for interest-rate increases, along with gains in the stock market, have boosted the confidence of buyers. New home sales have heated up as developers seek to clear inventory ahead of a looming tax on vacant apartments.
But to the bears, weakness in the global economy suggests the rebound may be short-lived, with more declines on the way. Here’s the split in views, taken from interviews and notes and reports:
What the Bulls Say...
JPMorgan Chase & Co.
Cushman & Wakefield Plc
And What the Bears Say
DBS Group Holdings Ltd.
Jones Lang LaSalle Inc.
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