Hong Kong Lifts Property Curbs to Revive Real Estate Sector and Boost Economy

Hong Kong has removed decade-old property restrictions like taxes and duties to boost its real estate sector and overall economy
The restrictions were originally introduced years ago to prevent a housing bubble
Real estate is crucial to Hong Kong's economy, accounting for up to a fifth of GDP
Hong Kong's property prices have fallen over 20% from their peak in the past year
The move is part of efforts to revive Hong Kong's economy which has struggled recently due to talent leaving the city and mainland China's economic slowdown