Hot money spurs developers to rush projects on to market

Property developers are rushing new projects on to the market in response to hot money inflows that are helping to drive prices to record highs.

After rising for four consecutive weeks, the main barometer of house prices, the Centa-City Leading Index, reached a new high of 111.19 for the week ended October 14 - tracking an 18 per cent increase in average prices on the secondary home market so far this year.

via Business feed http://www.scmp.com/business/companies/article/1066687/hot-money-spurs-developers-rush-projects-market