Economics

IMF Says Hong Kong Property to Slow If Fed Delivers Rate Hikes

Residential and commercial buildings stand in the Mid-levels area of Hong Kong, China, on Saturday, May 4, 2013. In December, the Hong Kong Monetary Authority said the overheated property market is increasingly disconnected from the rest of the economy.
Photographer: Lam Yik Fei/Bloomberg

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November 29, 2017 at 3:00 AM EST

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House prices in Hong Kong, the world’s most expensive real estate market, could cool next year if the Federal Reserve delivers the rate hikes it has projected, according to the International Monetary Fund.

The outlook comes as Hong Kong’s red hot property sector shows few signs of a slowdown with price gains of 11 percent this year even after the government pushed through new taxes and mortgage curbs.

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