Hong Kong under pressure to ease property curbs ahead of budget reveal
In Hong Kong, property curbs have been in place for over a decade to stop speculation. Business and political groups are now calling for the cooling measures to be scrapped, ahead of the city's budget report. Despite picking up after certain curbs were rolled back late last year, Hong Kong's property market continues to slump. Transactions have dropped to the lowest in 33 years, while home prices have hit a record low since February 2017. Deborah Wong reports.
In Hong Kong, property curbs have been in place for over a decade to stop speculation. Business and political groups are now calling for the cooling measures to be scrapped, ahead of the city's budget report. Despite picking up after certain curbs were rolled back late last year, Hong Kong's property market continues to slump. Transactions have dropped to the lowest in 33 years, while home prices have hit a record low since February 2017. Deborah Wong reports.
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