October 27, 2009
Another Hong Kong Luxury Real Estate Bubble; Bulgarian Luxury Property Prices Slump 40% and the Biggest Real Estate Deal in New York Heads Towards Becoming the Biggest Foreclosure Instead and Yet Another “Mortgage Vehicle” Hits The Market
After new Hong Kong mortgage rules were introduced to curb another bubble in the luxury property market due to an influx of Chinese stimulus money, shares in Hong Kong property companies slumped, dragging down the Hang Seng by 1.6%, according to MarketWatch.
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