Hong Kong's housing market will take a rapid downturn in the next few months, according to Moody's Investors Service. The credit rating agency estimates that house prices and sales will drop 15% over the next 12-18 months, mirroring the predictions of investment bank CLSA, as well as Citibank and UBS. In its latest report, Moody’s said it expects home price declines to accelerate from July through September. SEE ALSO: The expensive property market is a pillar of Hong Kong's economy, but the latest statistics put it in its worst shape in 15 years.
Hong Kong's housing market will take a rapid downturn in the next few months, according to Moody's Investors Service. The credit rating agency estimates that house prices and sales will drop 15% over the next 12-18 months, mirroring the predictions of investment bank CLSA, as well as Citibank and UBS. In its latest report, Moody’s said it expects home price declines to accelerate from July through September. The expensive property market is a pillar of Hong Kong's economy, but the latest statistics put it in its worst shape in 15 years.