Are House Prices Rising Too Fast In Hong Kong Sar
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Are House Prices Rising Too Fast In Hong Kong Sar
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-12-01
Are House Prices Rising Too Fast In Hong Kong Sar written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-01 with Business & Economics categories.
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.
Are House Prices Rising Too Fast In China
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Author : Mr.Ashvin Ahuja
language : en
Publisher: International Monetary Fund
Release Date : 2010-12-01
Are House Prices Rising Too Fast In China written by Mr.Ashvin Ahuja and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-01 with Business & Economics categories.
Sharp increase in house prices combined with the extraordinary Chinese lending growth during 2009 has led to concerns of an emerging real estate bubble. We find that, for China as a whole, the current levels of house prices do not seem significantly higher than would be justified by underlying fundamentals. However, there are signs of overvaluation in some cities’ mass-market and luxury segments. Unlike advanced economies before 2007-8, prices have tended to correct frequently in China.Given persistently low real interest rates, lack of alternative investment and mortgage-to-GDP trend, rapid property price growth in China has, and will continue to have,a structural driver.
Determinants Of Property Prices In Hong Kong Sar
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Author : Mr.R. Sean Craig
language : en
Publisher: International Monetary Fund
Release Date : 2011-11-01
Determinants Of Property Prices In Hong Kong Sar written by Mr.R. Sean Craig and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-01 with Business & Economics categories.
This paper uses an econometric model of residential property prices in Hong Kong SAR to assess the effectiveness of alternative policies in slowing the increase in property prices. The rapid rise in property prices is well explained by macroconomic fundamentals; real GDP per capital, real domestic credit, construction costs, land supply, and the real interest rate. Policy can influence the property market though land supply and prudential and tax policy, with the latter policies taking the form of a stamp duty on property transactions and a tighter loan-to-value ratio (LTV) on lending. Land supply is the most effective policy insturment for restraining property price increases but it operates with a significant lag. The LTV and stamp duty dampen speculative activity that drives up property prices. While these policies can slow the increase in the short run, they should be guided by their long run objectives of financial stability and counteracting speculation.
People S Republic Of China Hong Kong Special Administrative Region
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2014-05-22
People S Republic Of China Hong Kong Special Administrative Region written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-22 with Business & Economics categories.
This 2014 Article IV Consultation highlights that Hong Kong Special Administrative Region’s (HKSAR) growth recovered to 2.9 percent in 2013 as resilient domestic demand helped offset the continued drag from net exports. As the global recovery takes hold, external demand is forecast to improve and lift growth to about 33⁄4 percent in 2014, although domestic demand remains solid. Inflation is expected to remain at about 4 percent, given the slow pass-through of housing costs. In line with the improved economic outlook, the 2014/15 budget includes a reduction in one-off measures of about 1.9 percent of GDP.
People S Republic Of China
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Author : International Monetary Fund
language : en
Publisher: International Monetary Fund
Release Date : 2010-12-02
People S Republic Of China written by International Monetary Fund and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-12-02 with Business & Economics categories.
Owing to prompt policy action, the Hong Kong economy is now back on a robust growth trajectory. Inflation has rebounded, driven by higher costs for utilities. Banks have withstood the financial market volatility. Higher property prices leading to higher rents and the ongoing asset price inflation will feed into higher consumer prices. Financial stability using macroprudential tools and improving the overall fiscal position will help. Preserving the flexibility and adaptability of its economy will require a careful balancing act.
Property Prices And Speculative Bubbles
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Author : Sanjay Kalra
language : en
Publisher:
Release Date : 2000
Property Prices And Speculative Bubbles written by Sanjay Kalra and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Real property categories.
Major Factors Contributing To Rising Residential Property Prices In Hong Kong
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Author : Siu-kuen Chan
language : en
Publisher:
Release Date : 1996
Major Factors Contributing To Rising Residential Property Prices In Hong Kong written by Siu-kuen Chan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996 with Housing categories.
Regional Economic Outlook April 2007 Asia And Pacific
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2007-04-12
Regional Economic Outlook April 2007 Asia And Pacific written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-04-12 with Business & Economics categories.
The recent economic and financial developments and trends in Asia and the Pacific are examined in this latest REO, including issues related to Asia’s trade performance, notably in the high-tech sector, and the February-March bout of turbulence in the region’s financial markets. The near-term outlook, key risks, and their related policy challenges are analyzed throughout, as well as in special chapters that look more closely at the evolving nature of capital inflows, housing market developments, and the impact of commodity price booms on lower-income economies.
What Have We Learned
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Author : George A. Akerlof
language : en
Publisher: MIT Press
Release Date : 2016-09-02
What Have We Learned written by George A. Akerlof and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-09-02 with Business & Economics categories.
Top economists consider how to conduct policy in a world where previous beliefs have been shattered by the recent financial and economic crises. Since 2008, economic policymakers and researchers have occupied a brave new economic world. Previous consensuses have been upended, former assumptions have been cast into doubt, and new approaches have yet to stand the test of time. Policymakers have been forced to improvise and researchers to rethink basic theory. George Akerlof, Nobel Laureate and one of this volume's editors, compares the crisis to a cat stuck in a tree, afraid to move. In April 2013, the International Monetary Fund brought together leading economists and economic policymakers to discuss the slowly emerging contours of the macroeconomic future. This book offers their combined insights. The editors and contributors—who include the Nobel Laureate and bestselling author Joseph Stiglitz, Federal Reserve Vice Chair Janet Yellen, and the former Governor of the Bank of Israel Stanley Fischer—consider the lessons learned from the crisis and its aftermath. They discuss, among other things, post-crisis questions about the traditional policy focus on inflation; macroprudential tools (which focus on the stability of the entire financial system rather than of individual firms) and their effectiveness; fiscal stimulus, public debt, and fiscal consolidation; and exchange rate arrangements.
Singapore
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Author : International Monetary Fund. Asia and Pacific Dept
language : en
Publisher: International Monetary Fund
Release Date : 2018-07-27
Singapore written by International Monetary Fund. Asia and Pacific Dept and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-07-27 with Business & Economics categories.
Singapore’s economy is on a strong cyclical upswing. Economic growth has recovered to a three-year high, led by externally-oriented sectors that benefitted from the synchronized global expansion. Economic momentum is becoming more broad-based, helping to reduce the labor market slack. Growth is expected at or above the potential rate in the near term, increasingly supported by domestic demand. Inflation is subdued but expected to rise modestly. The current account surplus, as a share of GDP, has remained large. Risks to the near-term outlook are broadly balanced and come mainly from external sources. Over the medium term, the structural transformation aimed to prepare Singapore for challenges from technological changes globally and population aging at home should help support higher productivity.