Home prices in Hong Kong, where a nano-apartment of less than 200 square feet can cost as much as $500,000, have surged more than 137 percent since the financial crisis in 2008, propelled by a supply shortage, low interest rates, and big flows of money from mainland Chinese investors.
According to Rueters news the latest measures announced by the HKMA were not aimed at targeting property prices, but at strengthening lenders risk management
In the first major sale since the latest HKMA measures, thousands flocked to snap up flats offered on Friday by the city's No. 2 developer Cheung Kong Property Holdings, lured by favourable financing terms.
ANALYSIS-Hong Kong property cooling moves set to fail via CNBC