Henderson Land Development and Sun Hung Kai Properties, two of Hong Kong's leading developers, have defied warnings about the risk of a bursting real estate bubble, predicting home prices will continue to rise substantially next year.
Speaking after the company's annual general meeting, Henderson Land chairman Lee Shau-kee said home prices would rise another 10% after an average gain of 30% so far this year.
At a separate function, Sun Hung Kai Properties also said it expected home prices to climb. 'The low-interest-rate environment has substantially eased the homebuyer's burden,' said Lee. He said he did not see any property bubble risk.
South China Morning Post