December 24, 2017 01:00PM
Carrie Lam and Hong Kong
Hong Kong’s chief executive said government efforts to temper the world’s most expensive property market have failed.
“It’s impossible for the government to curb property prices,” chief executive Carrie Lam said during an interview with Radio Television Hong Kong, Bloomberg reported. “Despite the several rounds of cooling measures by the government, prices didn’t drop. Some even suggested that those measures had pushed up prices instead.”
Prices in Hong Kong’s resale market rose 14 percent this year, pushed upward by inexpensive money and demand from mainland buyers.
Sign up for China Watch for weekly emails on Chinese real estate investments.
The number of new residential units coming to market in Hong Kong can’t keep pace with the number of mainland Chinese who become residents each year.
Lam restated her goal of resolving the housing shortage but didn’t offer any specific policies that would curb prices. [Bloomberg] – Rich Bockmann
Buyers, sellers, brokers, agents, investors, lessors or renters will benefit from attending one of our two free Real Estate Seminars in Bali...
Best Asia Real Estate Editor's Comments: One of the things that have made a point of in my recent real estate seminars is a the huge ...
Denpasar, May 05 2018 According to PT. Bali Affordable Lifestyles International. (PT. B.A.L.I.) who have managed award winning PT. Bali ...
Australia's pensioners retiring overseas because they can't afford Australia By freelance correspondent Eden GillespieEditor's comments: As I have predicting heavily for the last 12 months one of the biggest demands for Bali real estate in the near futur...