Posted 2/17/2024, 10:37:13 AM
Calls Mount to Ease Hong Kong Property Curbs to Revive Slumping Housing Market
- Political heavyweights and economists urge Hong Kong authorities to scrap all property cooling measures ahead of annual budget to boost sluggish housing market
- Easing some curbs in October led to 64% jump in home transactions without triggering price surge
- Pro-business lawmakers argue removing cooling measures could stimulate sector and generate more government revenue from property taxes and land sales
- Economists predict prices won't soar given economic woes and high interest rates; suggest gradual, partial easing of stamp duties
- Housing is a livelihood issue; government should rein in market if non-local buyers drive up demand and prices skyrocket