Hong Kong’s property slump may be terminal

Luxury homes high on the Peak, a verdant mountain towering over Hong Kong, have long been above the cares and concerns of the rest of the city: residents look down from sprawling mansions onto the dense knot of tower blocks in which most people live. But recent property woes have brought even the loftiest areas down to Earth. The family of one indebted property investor sold eight swanky Peak properties between July and October for around half the price they might have fetched a couple of years ago.