Hong Kong housing rally faces test as property flippers retreat

Hong Kong’s housing rally faces a new test as investors who rode the first-half rebound become less active in quick-turn trades, leaving owner-occupiers and longer-term buyers to sustain the recovery. Secondary home prices have continued to rise, with Centaline’s leading index climbing 0.64 per cent to 162.16 on Friday, its highest level in three years. But the short-term trading that accelerated alongside the rebound has pulled back sharply: transactions involving homes held for less than a...