香港

Hong Kong’s tide of liquidity shows clear signs of ebbing

On the surface, Hong Kong is as flush with cash as ever.

Mainlanders continue to show up with bags of money to purchase luxurious flats on the Peak. The Hong Kong arts festival attracted record numbers of both dealers and buyers. The price of wine continues to spiral upwards. (It helps that both art and wine are the new currency for bribing Chinese government officials, but that is incidental.)

However, beneath that robust surface there are signs that the markets are slowing. The asking price and the actual price at which flats at the high end are being sold have widened.

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