Sharp differences are emerging between buyers and sellers over the outlook for property in Hong Kong and the mainland, and the resulting big gap between their price expectations has applied the brakes to deals, say analysts.

While many bidders are on the prowl for bargains, vendors remain hopeful of more stimulus measures to prop up the ailing property market and a gradual rise in prices on the mainland appears to support their wait-and-see strategy.

Lee Wee Liat, a senior property analyst at investment bank Nomura, said developers in both Hong Kong and the mainland were now willing to sell only if their price expectations were met.

South China Morning Post