Luxury Real Estate Blog and News
The French government has cashed in on Hong Kong's property boom by selling its Hong Kong consular residence for 74.5 million US dollars, a news report said Tuesday.
The surge of the last 24 months in the Hong Kong real estate market appears to be coming to an end. Higher lending rates and government action has created a 38 per cent drop in property purchases in April compared to the same month last year and a 27 per cent decrease from March.
Property analysts in Hong Kong have urged the government their to implement more property market cooling measures, according to the South China Morning Post.
China has increased the minimum down payment for second home purchases and told local governments to set price targets on new properties, in the latest round of measures to stop the country’s real estate market overheating.
China will not relax curbs on property speculation in 2011 and will reinforce the implementation of measures to contain rising home prices, according to officials.