Ye Liu: With my income, I can only buy a building when I am 40 years old. Members encourage the property market to de-intensify.
Today’s meeting of the Legislative Council discussed the “hot movement” in the property market. New Democratic Party lawmaker Ip Lau Suk-yee said, “With my income, I can buy property before I’m 40 years old. “She is concerned about the level at which property prices will fall before young people can come to into the market. Councilor Lam Kin-feng of the Economic and Democratic Alliance, who raised the oral question, urged the government to completely cancel the “hot tricks” in the property market and restore vitality to the property market.
Ip Lau Suk-yee mentioned that in 2003 young people were able to enter the property market due to the economic recession, and asked whether the government has considered the relationship between the sudden drop in property prices and the economic recession. Housing Secretary Alexis Ho responded that approximately 80% of second-hand Homeownership Scheme housing units are subscribed by people under 40 years of age. She believes that young people have a strong desire to buy homes, but the “hot movement” in She refers to “reducing the hotness” rather than “getting rid of the hotness” altogether, believe that it is the best decision to take care of multiple situations.
Lin Jianfeng encourages the property market to de-escalate
Lin Jianfeng pointed out that the transaction volume of the property market has not improved so far, along with the decline in property prices, he urged the government to “remove the heat” fully to restore vitality to the property market. Ho Yong-yin responded that it is difficult to measure the impact of individual factors on property prices. The current external environment is full of challenges and the market atmosphere is cautious. After the introduction of “stress reduction” measures, there were 2,929 contract residential sales in December last year, which was lower than that in October and November of the same year. The month continues to rise. After the implementation of the “first exemption and later collection” of stamp duty for the purchase of a home by foreign talents, there were 474 applications, of which 394 were approved, which proves that the measure is attractive. The government will monitor it’ n close to ensure the stable and healthy development of the property market.
The original article was published on AM730
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