IMF warns Hong Kong property market at risk of sharp fall

The International Monetary Fund warned yesterday that Hong Kong's property market faced the risk of a sharp correction as prices had doubled from the trough in 2008.

Property prices, which have risen 20 per cent this year, posed a severe risk to the domestic economy because half of the outstanding loans in the city were based on real estate as collateral, the IMF said.

via Business feed http://www.scmp.com/business/economy/article/1103905/imf-warns-hong-kong-property-market-risk-sharp-fall