Hong Kong curbs public-home sales to ease oversupply

Article Abstract:

The government of Hong Kong has announced it will stop selling public housing for 10 months and cut its sales of public homes by 50% over the next five years in order to reduce the risk of a glut in the residential-property market. This is expected to reduce the oversupply of housing and encourage people to move to privately built housing. The government is also increasing interest-free loans to low-income families. The change in policy is further discussed.

Residential Buildings, Residential Building Construction, Government domestic functions, Administration of Housing Programs, Housing Programs-Local, Construction industry, Residential construction, Economic policy, Public housing, Housing policy

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Land sales may aid economy: Hong Kong plans to offer 31 lots

Article Abstract:

A total of 31 lots will be sold in Hong Kong. The government hopes that the plan would raise confidence in the local economy and would stabilize the volatile property market. Moreover, additional revenue from the sales will even up the local government's budget deficit. The lots will be sold by auction or tender offer from Apr 1, 1999 through Mar 31, 2000. Aside from the 31 lots, 33 sites will be reserved for real estate developers.

Market information - general, Administration of Conservation Programs, Land Programs, Land use, Public lands

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Enthusiasm for property endures price flop in Hong Kong

Article Abstract:

Hong Kong's property market continues to prosper despite the uncertainty of recovery, reflecting the city's continued obsession with property ownership. Property exhibitions, along with property lending schemes from banks, are active once again two years after the Asian financial crisis sent property prices down in 1997. Although fears of another decline in property prices remain, the memory of 13 years of boom from 1984 to 1997 continue to fuel optimism in Hong Kong's property market.

Sales & consumption, Real estate investment, Real estate investments, Real property, Personal property

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