Norman Chan: interest rate hike will greatly impact property market

Posted: Nov 4 2014Last Updated: Feb 11 2016
3 November 2014 - During the meeting for the Legislative Council's Panel on Financial Affairs, Hong Kong Monetary Authority Chief Executive Norman Chan commented that it is only a matter of time before interest rates will start increasing in Hong Kong as a result of the US central bank ending its huge monthly bond purchase programme.
Chan warns that the interest rate increase would almost certainly have a great impact on Hong Kong's property market. He says it was too early to comment on whether the territory's property market was still overheated, but he stressed that the government will keep a close eye on property prices and may implement further cooling measures if necessary.
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