2023-10-27 01:05:15
The “Policy Address” relaxes measures to manage demand in the property market. Financial Secretary Paul Chan Mo-po said on this station’s program “Millennium” that the rise and fall of property prices are affected by many factors, including supply and demand, market sentiment, how everyone views economic development, and interest rates, etc. The SAR government does not make speculations.
Chan Mo-po said that due to the poor external economic environment this year, although Hong Kong has fully recovered following the epidemic, the speed is slower than expected. Revenue from land sales and stamp duty will be less this year, and the deficit will be higher than the original budget, which may exceed 100 billion yuan. Economic cycles have ups and downs, and the most important thing is to continue working hard to develop the economy.
Secretary for Housing Edwin Ho Wing-yin, who attended the same program, said that when the “Hot Trick” was launched in 2010, it was because the property market was very hot at that time, demand was huge, and property prices rose sharply. However, the entire environment today is different from that then, and the economy is slowing down. Everyone is more cautious and calm, their tone is different, and property prices have been adjusted.
She described that “property is not only the economy but also people’s livelihood.” About half of the people in Hong Kong own private properties, and some people want to buy properties. Therefore, measures must be adjusted appropriately, and the halving of the tax rate is very well done.
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