Sleepless in Hong Kong: CY Leung’s property headache

The new chief executive may be in for some restless nights as he tries to wrestle with the challenges facing Hong Kong’s property market.

Sleepless in Hong Kong: CY Leung’s property headache
Leung Chun-ying (right) and Henry Tang shake hands during a debate earlier this year (EyePress)

Why is the Hong Kong property market important to Leung Chun-ying, who took office as the third chief executive of Hong Kong on July 1 It is because the government is the biggest landowner in Hong Kong. It gets 25% to 30% of its budget from land and land-related revenues, including stamp duties. If you were being cheeky, you would call the Hong Kong government Asia’s biggest property company.

Hong Kong property has been on...

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