News Snapshot:
(Bloomberg) -- Hong Kong’s home prices are set to decline in 2022 as residents continue to leave the city, according to UBS Group AG. Residential property values in Hong Kong will fall by around 5% this year due to persistent population outflow and imminent interest rate increases, John Lam, head of China and Hong Kong real estate research at UBS, said in a media briefing Monday. Restrictions on capital outflows from mainland China and the country’s slowing economic growth may also drag down home prices in the city, Lam said. Mainland Chinese buyers have been an important source of demand...
