Hong Kong housing market 'painfully slow', says Patrick Chow

Hong Kong home sales are mired in a slow and painful contraction and estate agents predict a recovery is not on the cards until after the Lunar New Year.

"The market is painfully slow," said Patrick Chow Moon-kit, head of research for Ricacorp Properties. "The situation will last for a while."

Chow predicted an improvement might only be seen after the Lunar New Year in February, but perhaps even later. "In light of a decline in demand from Hong Kong and mainland investors, it is hard to say when the market will stage a recovery."

via Business feed http://www.scmp.com/business/economy/article/1101621/hong-kong-housing-market-painfully-slow-says-patrick-chow