Not Looking Good - HK Property

A Reuters' poll showed tt HK & S'pore apartment prices were expected to drop abt 20% by the end of 2009.

In HK, banks are asking for 30 - 40% down payment instead of the usual 10%, leading to even fewer buyers and thus sellers are disposing their properties at 30% discounts.

HK pty transactions hit a 17-yr low in Nov, down 87% in value a yr ago.

* AsiaOne - HKPty *