Hong Kong has an open real-estate market again... finally!

Property offerings have sold out swiftly following lifting of residential property cooling measures : as Mr Paul Chan Mo-Po said:

“The economy is recovering now… no matter if it is corporations or residents, they need to strengthen their fundamentals and nurture their growth after the previous years, so we need to give them some space.”

Many said the move was unexpected, a good read may have been to see the number of apartments due to come onto the market, together with demand and the general situation.

There was no need to “cool” Hong Kong further with “decade old” controls after many years of Covid restriction and isolation, Covid policies had already significantly cooled the Hong Kong economy. As we pull up from what has been a long period of being frozen out of a post-Covid world, the latest move shows the current administration is aware of that and is being realistic. Anyone in Hong Kong knows both businesses and individuals must now be allowed to get back on their feet with minimal interference or obstruction; to state we need to be given some space to grow is exactly what we need to hear from Government.

Hong Kong now just needs to work on what the world gets to read about the city so we do not see those with an on-going desire to talk-down Hong Kong or hold it back from recovering getting disproportionate coverage.

The most obvious example recently was the Financial Times piece by Stephen Roach, claiming Hong Kong was “over” swiftly followed by a further article, by Roach, where he attempted to clarify what he meant to say leading with the position that no city was … definitively over “… what a tangled web we weave…” (As the saying goes)

With an absence of punitive restrictions on domestic investment in or purchasing of real estate and a free market for overseas investment in properties; Hong Kong is again now at least well ahead of many its regional rivals in that area.

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