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HK plans locals-only housing to tame property prices

Posted on 29 March 2012

The leader-elect of Hong Kong said his government would launch a pilot project to build middle-class housing for residents only, hoping to cool soaring property prices that have sparked a backlash against unlimited sales to overseas buyers.
Mr Leung Chun-ying, who last Sunday won an election to become the next Chief Executive of the territory, said the idea is to sell land for developments that would be restricted to Hong Kong residents. The government owns all land in the city and sells it on long leases………………………………………..Full Article: Source

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