Chinese Mainland, Not Hong Kong, Faces Big Property Bubble, Expert Says
The Chinese mainland faces a bigger property bubble than Hong Kong, reflecting the mainland’s excessive construction, over-borrowing and misalignment of home prices and purchasing power, said Shih Wing-ching, founder of Centaline Property Agency.
In contrast to the mainland, the property market in Hong Kong is under-built, Shih said in an interview. About 60% of the homeowners in Hong Kong have already paid off their mortgages. The city’s banking and monetary authorities are also cautious in managing loans.
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