New property measures spur selldown in sector

Property stocks were hammered yesterday on concerns the government's fresh curbs would drag down home prices.

Some analysts expect transactions to fall although the city's property prices may not decline too much because of strong demand.

"We do not expect residential prices to drop - demand is coming from locals and there are very few panic sellers," Morgan Stanley analysts said.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1158654/new-property-measures-spur-selldown-sector