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Hong Kong reins in property bubble

Posted on 08 November 2012

The Hong Kong government’s toughest efforts yet to curb a growing asset bubble in the city’s property market probably won’t be the last as record-low mortgage rates drive demand for the world’s priciest homes.
Policy-makers last month imposed an extra 15-per-cent tax on all home purchases by companies and non-permanent residents, adding to steps to boost the supply of housing and tighten lending as an influx of buyers from other parts of China underpin soaring prices. Untouched is the major stimulant fuelling prices: borrowing costs tied to the U.S. because of the Hong Kong dollar peg and growth linked to China………………………………………..Full Article: Source


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