Hong Kong’s Housing Prices Are Still out of Control
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If you speak to any Hong Kong resident, the conversation will invariably be directed to the subject of property prices. That’s no surprise given that earlier this year, Hong Kong was crowned the world’s least affordable city by research organization Demographia’s International Housing Affordability Survey. 2017 marks the seventh consecutive year that Hong Kong has taken the mantle.
The government has also long recognized this problem. Housing affordability has been a policy bedrock of incumbent Chief Executive CY Leung since he stepped into the role. To date, he has not been able to find a solution, other than to allow the building of more apartments by the same oligarchy of approximately five Hong Kong property developers, give or take two or three mainland corporations.
Source : Hong Kong's Housing Prices Are Still out of Control