Friday, June 08, 2012

HK govt urged to restrict foreign buyers

The Hong Kong government should consider studying measures to restrict foreign home buyers, noted Anthony Cheung Bing-leung, Director of the Hong Kong Housing Authority.
“According to the changing structure of the local property market, the government should study the possibility of limiting purchases by foreigners, although such a move is controversial,” said Cheung.
His comment was similar to an earlier statement by Chief Executive-elect Leung Chun-ying, who assumes office on 1 July. Leung proposed allocating land sites for residential units solely for locals.
“It is right for the government to launch more public housing, and the new government should continue to move in a bid to cool red-hot prices,” he said.

View the original article here

Source From Property Guru

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