HONG KONG, Nov. 26, 2010 /PRNewswire-Asia/ -- Conditions in the Hong Kong housing market have come under the microscope in the last week, with officials concerned that asset prices are continuing to rise on the back of speculative purchases. In light of this, on Friday, 19th Nov., the Hong Kong Monetary Authority suddenly tightened purchasing regulations by announcing further measures aimed at stifling the boom in property.
India rate hikes on hold but not for long
The Reserve Bank of India (RBI) has raised the repo rate by 150 basis points since mid-March in their battle against high and sticky inflation. However, RICS expect no further increase at December's meeting as the RBI monitors the effects of previous monetary tightening, and the property market may yet feel more strain from further rate hikes in early 2011.
European sovereign debt crisis poses challenges for Europe
The re-intensification of the sovereign debt crisis in Europe in recent weeks has put further strain on these economies and increases downside growth risks for the region as a whole. The RICS Q3 Global Distressed Property Survey sheds some light on which countries any potential losses are likely to be concentrated in from a commercial property angle.
US housing market recovery likely to take longer than anticipated
After a strong second quarter, which saw the 20-city Case-Shiller house price index (HPI) climb over the period, house prices have been inching downwards, with July and August recording falls bringing the annual growth rate to 1.7%. Residential construction spending paints a similar picture, with strong mid-year growth and a downturn in the last couple of months.
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