29 Mar '17, 8am

HK leader-elect vows to address high housing costs | Overseas

Property cooling measures in Hong Kong have failed to lower housing prices, which remains a concern. Carrie Lam, Hong Kong’s newly elected Chief Executive, said on Tuesday (28 March) that she is “very determined” to bring down the high prices of residential properties in the city, which is one of the main issues facing expatriates working there, reported Reuters . Lam, the former Chief Secretary of Hong Kong, was picked last Sunday (26 March) as the new leader of the special administrative region by a committee consisting of 1,200 individuals. Her predecessor, outgoing Chief Executive Leung Chun-Ying, also placed great importance on reducing the high cost of housing by imposing property cooling measures. However, these have failed to lower residential prices, which remain out of reach for the average citizen. During a Credit Suisse investment conference, Beijing-backed Lam...

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

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