Residential property prices could fall by 30 percent in mainland China, according to property developer Ronnie Chan.
The chairman of Hang Lung Group and Hang Lung Properties hopes the retail market does not fall by 50 percent, “but it’s anybody’s guess,” Mr. Chan said.
He thinks the market will remain robust and any declines would create purchasing opportunities.
Hang Lung Group’s shares have dropped and are starting to attract more investors, according to sources. Grubb & Ellis Alesco Global Advisors Chief Investment Officer Brett Johnson stressed that the shares are very attractive.