HK property

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.
<div style="text-align: left;">
Leung Chun-ying (right) and Henry Tang shake hands during a debate earlier this year (EyePress)
</div>
<div style="text-align: left;"> Leung Chun-ying (right) and Henry Tang shake hands during a debate earlier this year (EyePress) </div>

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 an upward trend for the past eight years since the Sars epidemic in 2003. Prices have risen at a 14% annual rate, greater than the 5% return from the Hang Seng Index.

...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222