Global Home Price Growth Slows to 2-Year Low Pace in Q3

According to International property consultant Knight Frank, the average value of residential property across 57 countries and territories worldwide increased by 4.9% in the year to September 2018, the index's lowest annual rate of growth for two years. Knight Frank further reports that Hong Kong leads the rankings for annual growth in the year to September 2018 but it may relinquish this top spot in the coming months. The Hang Seng Index, which in the past has acted as a lead indicator for the property market, recently slipped 12%, and add to this global trade disputes, a strengthening currency and the proposed vacancy tax for developers, we expect price growth to soften in 2019.