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From Hong Kong to Malaysia, property markets set to decline: IMF

Shift in interest rate cycle creates 'downside risks', organization says

Tighter financial conditions are raising borrowing costs, which is starting to depress housing demand in Asia, according to a recent study by the International Monetary Fund.   © AP

SINGAPORE -- Asia's property markets are poised for a sharp fall in prices, with higher interest rates making housing less affordable for average buyers, a study published by the International Monetary Fund warns.

From Hong Kong to Malaysia, the study points to flattening home prices in Asia, following a property boom that surged with the onset of the COVID-19 pandemic. This could lead to corrections as a downturn looms.

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