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Will HK’s Property Market give the Gift of Falling? PropGO wishes you a very happy holiday season and to a sensational 2013! No matter how hard the HK Authorities try to cool the Hong Kong property market –Prices Still Remain at all-time Record Levels?
The Hong Kong property market seems to have stabilized lately by the aggressive government actions. The raised in stamp tax and increased in minimum down payment will drive up the transaction costs for any short term speculations, and the suspension in property investment in the CIES program will reduce foreign demand. Furthermore, the government increases the amount of land sale in the view of increasing the supply level. However, there are three factors that have limited the government’s ability to control the rising house prices.