Fall in hong kong luxury prices hints at investor caution

Luxury home buyers in Hong Kong are adopting a wait and see attitude because of stock market volatility and rising mortgage rates, according to new data out this week from Knight Frank's research team in China.

Hong Kong's Land Registry reports that sales volumes fell by 11.3% in September, hitting their lowest levels since February 2009. And luxury residential prices were down by 0.5%.

Many buyers are delaying their decision until after the government's October Policy Address which sets out future housing policy, says the Knight Frank research.

The HK$10 million plus apartment market was the hardest hit in September with sales volumes down 63.8% month on month.

Source: OPP.org.uk