Staff Reporter
,
Hong Kong
Looks like it's time to sell.
Barclays notes that following the recent rally in property developer stocks, which has taken them back to the very top of their post 2008 trading ranges, it’s time to sell.
According to Barclays, the market has been less tied to the affordability of first-time buyers. Yet, with developers’ completions increasing to over 20,000 units by 2015, the reduction in these equity sources will be negative for the market, especially as the average deposit cost for a first-time buyer is comparable to the property peaks of 1982 and 1997.
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