Hong Kong may consider additional restrictions on purchases of property by foreigners, Bloomberg reports with the reference to Kong Economic Journal.

Non-locals could avoid paying 30% stamp duty by purchasing property through trust. Volume of deals by non-residents was just 1,2% of total purchases in the first half.

Government that is trying to restrict prices at least affordable real estate market in the world is planning to closely watch situation and introduce measures when necessary.

Meanwhile, index of 22 large Chinese developers that are mostly traded in Hong Kong continued its decline on Tuesday and fell by 2,4%.

Besides, analytics from Nomura International (HK) Ltd. forecast 13% price fall next year as mortgage rates are rising.

This year prices have grown by 14% already.