Hong Kong Property sector to continue to rise in 2011

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Despite steps taken by the government, nor a cool reception high and volatile global financial environment of the housing boom in Hong Kong is expected to continue in the new year.

Expected to achieve, despite a brief respite in the first quarter because of the government cooling measures, the Hong Kong national characteristic is needed by 10 percent in 2011, have jumped by 50 percent since thethe start of the ‘ last year. This has no doubt anticipating a developer “and the precautionary principle position of the government.

During an auction sale of government land, a parcel on Ede Road, Kowloon Tong for more than 200 million U.S. dollars for China Chem developers More than USD2300 per square foot was a record price for the award of the Kowloon Peninsula.

Some economists said a large part of the market continue to be hot money from the mainland buyers and investors, rather than end users can refuel, but pumped a market liquidity, low interest rates and tight supply has resulted in a performance is independent of the more public land sales, capping mortgage , Prohibiting the introduction of contracts for the sale and another 15 per cent stamp duty on properties sold within two years after purchase.

Some economists argue that an air bubble, but they believe that the current measures to help the market speculation slowly, while others say that a correction in the workshop at the end of 2012, as banks may raise interest rates to Fight inflation.

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