When the Li family makes a pronouncement on property, Hong Kong tends to listen. So when Li Ka-shing's elder son, Victor Li said property prices have been slowly moving up, and proclaims he is bullish, it is time to reassess the moribund Hong Kong property sector.
Indeed, these have been a painful seven years for the Hong Kong property market, with residential house prices down 70% from their highs and 106,000 households suffering from negative equity.
The sluggish property market has sapped the city's confidence, and crippled the government's finances. If Li is right and it is about to turn that will be good news for the whole Hong Kong...
