TY - BOOK ID - 84543018 TI - Are house prices rising too fast in Hong Kong SAR? AU - Ahuja, Ashvin. AU - Porter, Nathan AU - International Monetary Fund. AU - International Monetary Fund PY - 2010 SN - 1462333532 1455297259 1283559234 9786613871688 1455211567 PB - Washington, D.C. : International Monetary Fund, DB - UniCat KW - Housing KW - Prices KW - Finance KW - Affordable housing KW - Homes KW - Houses KW - Housing needs KW - Residences KW - Slum clearance KW - Urban housing KW - City planning KW - Dwellings KW - Human settlements KW - Social aspects KW - Banks and Banking KW - Infrastructure KW - Macroeconomics KW - Real Estate KW - Urban, Rural, and Regional Economics: Housing Demand KW - Housing Supply and Markets KW - General Financial Markets: General (includes Measurement and Data) KW - Economic Development: Urban, Rural, Regional, and Transportation Analysis KW - Interest Rates: Determination, Term Structure, and Effects KW - Nonagricultural and Nonresidential Real Estate Markets KW - Price Level KW - Inflation KW - Deflation KW - Property & real estate KW - Housing prices KW - Real interest rates KW - Land prices KW - Asset prices KW - National accounts KW - Financial services KW - Saving and investment KW - Interest rates KW - Hong Kong Special Administrative Region, People's Republic of China UR - https://www.unicat.be/uniCat?func=search&query=sysid:84543018 AB - Sharp increase in house prices in Hong Kong SAR in 2009-2010 has led to concerns of an emerging real estate bubble. According to our measure of price deviation from fundamentals, which should be taken as an early warning indicator of market exuberance, the current level of house prices in Hong Kong SAR does not seem to be significantly higher than would be justified by underlying fundamentals. Moreover, unlike advanced economies before 2007-8, deviation from fundamentals has not been persistent in Hong Kong.Going forward, low interest rate and improving growth prospects, as well as a tight supply, particularly in the mass market, means that house price growth will continue to be strong.This is the period in which vulnerability may be accumulating, and tight prudential standards and fiscal measures will be required to tame price inflation. ER -