Letters | As property prices in Hong Kong fall, public support for the government will rise
Morality aside, it is not surprising for businessmen to make such comments. Their intention is obvious, but the argument is ill-founded since property prices have only fallen moderately after a protracted increase over almost 10 years. The government has set the right course by focusing on increasing the housing supply and tightening regulation of the mortgage market. The general public is expecting the government’s measures to yield positive results in the coming year.
The proposed vacancy tax is a good initiative and should be implemented quickly. Also, all counter-cyclical measures should be maintained. The government must adhere to its principles as this is the only way to regain public support. A sudden policy U-turn will certainly lead to catastrophic consequences, both economically and politically.
Stanley Ip, Tseung Kwan O
Good news for those who get rich from Hong Kong real estate
When interest rates drop in the future, all will be well for real estate once again. Good luck to all property investors in the land that makes everybody rich from real estate. And renters need to realise that a crash isn’t likely to happen any more.
Rishi Teckchandani, Mid-Levels