Property prices in the Asia-pacific region have reached risky levels, especially in Sydney, Hong Kong and Shanghai, according to S&P Global Ratings.
“Asset prices, especially property prices, today are as stretched as they were before the Asian crisis,” Elena Okorochenko, head of Asia-Pacific ratings said at a conference in Singapore on Wednesday.
Combined with increased household debt, prices in Sydney, Hong Kong and Shanghai appear stretched. “It’s a risk worth monitoring,” she said.
“Asset prices, especially property prices, today are as stretched as they were before the Asian crisis,” Elena Okorochenko, head of Asia-Pacific ratings said at a conference in Singapore on Wednesday.
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