06.11.2012 - From bankers to cage-dwellers, HK feels property price squeeze
In a cramped space on the fifth floor of an old industrial building in Hong Kong, Huang Shaochang and his wife live in some of the priciest real estate per square foot in the world - a 35 sq ft room with a bunk bed and small TV. Sky-high property prices forced them into these squalid conditions and prompted the Hong Kong government last month to impose measures to rein in residential home prices, which jumped 20 percent in the first nine months of this year even as the economy contracted 0.1 percent in the second quarter...............................................Full Article: Source
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