28 Feb '14, 12am

HK follows S'pore by not relaxing cooling measures - Property Auctions News, Property Investment...

According to media reports, Hong Kong’s property market is starting to moderate as a result of the government’s cooling measures. However, Financial Secretary John Tsang Chun-wah said the government would not ease the market curbs just yet. This despite the fact most of the city’s revenue comes from the property sector. “Before the supply-demand situation of the property market regains its balance, the government must continue with its demand-side management measures. These serve to forestall an increased risk of a property bubble that would hamper our macro-economic and financial stability,” said Tsang during his budget speech on Wednesday. Housing prices in Hong Kong have surged by more than two-fold since 2008, worsening income gaps and driving business costs. Meanwhile, the territory plans to sell 34 residential sites in 2014 and 2015 which will yield about 15,500 home...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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