According to analysts at the Hong Kong Monetary Authority (BofA), Bank of America (HKMA) plans to loosen restrictions on down-payments for buyers this year if property prices continue to fall. According to the report, Raymond Ngai, from BofA's Merrill Lynch unit said, “prices have fallen 8% since September and with another 5% to 10% drop you may see the HKMA relax restrictions.” Analysts are predicting that home prices could fall as much as 30% due to more properties entering the market and a predicted increase in short-term interest rates.
According to analysts at Bank of America (BofA), the Hong Kong Monetary Authority (HKMA) plans to loosen restrictions on down-payments for buyers this year if property prices continue to fall. According to the report, Raymond Ngai, from BofA's Merrill Lynch unit said, “prices have fallen 8% since September and with another 5% to 10% drop you may see the HKMA relax restrictions.” Analysts are predicting that home prices could fall as much as 30% due to more properties entering the market and a predicted increase in short-term interest rates.