Property market quakes over sure in lending rates
Article Abstract:
The stock and property markets of Hong Kong experienced shock waves as banks in the country implemented a 0.75-percentage increase in prime lending rates to 9.5%. The move, in effect passes some of the costs accrued from the sky-high interbank rates caused by the monetary authority of Hong Kong's efforts to defend the currency. The rise in lending rates, however, further makes the prices of residential properties above average consumers' reach due to more expensive mortgage rates.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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In Manila, land prices appear to be linked to fairway
Article Abstract:
The decline in golf-share prices may lead to a drop in land prices as golf shares exhibit much volatility. In 1996, golf-share prices were increasing together with the country's stock and property markets. Nevertheless, since the currency depreciation in July 1997 and the stock market's ensuing decline, golf-share prices have decreased 30% to over 70%. Land prices in the country have displayed an exceptional power to deter falling prices.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1998
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