Tuesday, April 13, 2021
Martin Hennecke

Homes market still too hot, reveals Chan
Financial Secretary Paul Chan Mo-po said Hong Kong can't relax residential property cooling measures, as home prices are still far beyond the reach of the common man. Though Hong Kong's economy shrank for five consecutive quarters, home prices slid less than 3 percent, and were still double than what they were in 2010 when the government introduced stamp duty, Chan wrote in a blog post yesterday. He said the government will continue to monitor home prices, transactions, supply and the macro-economy, but there was no timetable to ease the cooling measures. Meanwhile, Secretary for Financial Services Christopher Hui Ching-yu said Hong Kong's integration into the mainland and its international advantage are "two sides of the same coin" in regard to the city's development, and deeper financial links with the mainland will help the city attract more international funds.
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