HKMA stays vigilant
The Hong Kong Monetary Authority (HKMA) plans to maintain its prudent requirements on mortgage lending, according to its half-yearly report on monetary and financial stability. The HKMA says the risks of renewed exuberance could send housing prices up again. The report notes property prices have dropped 4 to 5 per cent since last year, though rental demand remains resilient. The HKMA adds there have been signs of a resurgence in the property market since the Lunar New Year.