HONG KONG, Jan. 23 /PRNewswire-Asia/ -- The latest data on the Hong Kong real estate market are due next week with the release of December's HKMA residential mortgage survey results. Demand for housing has been plummeting across Hong Kong over the last 6 months with the downward trend accelerating more recently as the economy has slipped into recession. New loans approved for house purchase was a mere HK$8.5 billion during November which was a 38% drop on October's level and a more acute 69% fall compared to a year earlier.
Transactions and house prices continue to fall in the US
Data on existing home sales and new home sales, released on Monday 26th and Thursday 29th respectively, are expected to echo the record lows that both series hit last month.
Euro area commercial property demand to fall in 2009
The German IFO and the Italian ISAE business confidence surveys are due for release on Tuesday 27th and Wednesday 28th respectively. The European Commission business confidence survey is due on Thursday 29th. All three surveys show that confidence has fallen to all time lows due to the collapse in global demand for manufactured goods, particularly autos and capital equipment, where the purchase of both are heavily dependant on the availability of credit.
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