Government policies will be a key factor weighing on Hong Kong's real estate market in the coming years, says CLSA Head of Property Research Nicole Wong says, and forecasts the pace of growth for the city's home prices to slow to 1.5% in 2013 from 14% this year amid the proactive and pro-supply land policies under the leadership of new Chief Executive Leung Chun-ying. Hong Kong property prices are not only driven by demand and supply, but also by liquidity, interest rates and the city's economic health, Wong says; "but now, we see a new and more important driver, which is policy." She adding that the government might unveil more proactive policies against prices increases. Meanwhile, Wong forecasts Hong Kong property prices to fall 5% in 2014 which assumes either an interest rate hike or an economic growth scare.
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