26 Dec '12, 12pm

HK selling more sites for homes, business to cool property market

http://www.businesstimes.com.sg/spec...arket-20121225 Published December 25, 2012 HK selling more sites for homes, business to cool property market [HONG KONG] HONG Kong's government will sell six residential sites next quarter that can provide about 3,000 apartments, as it seeks to raise new housing supply to help cool the world's most expensive home market. A commercial site and one for building a hotel will also be put up for tender during the last quarter of the government's 2012 to 2013 fiscal year, Development Secretary Paul Chan told reporters at a briefing in Hong Kong yesterday. The government plans to provide land where more than 20,000 residential units can be built in the current fiscal year ending March 2013, he said. Government measures to cool the market have so far failed to ease home prices in Hong Kong, which has doubled in four years, surpassing a previo...

Full article: http://forums.condosingapore.com/showthread.php?p=347966#...

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