2024-01-17 08:33:25
Ye Liu: With my income, I can only buy a building when I am 40 years old. Members urge the property market to de-escalate.
The Legislative Council meeting today discussed the “hot move” in the property market. New Democratic Party legislator Ip Lau Suk-yee said, “With my income, I can buy a property before I am 40 years old.” She is concerned about the level at which property prices will drop before young people can enter 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 because of the economic recession, and asked whether the government has considered the relationship between the sharp decline in property prices and the economic recession. Secretary for Housing Alexis Ho Wing-yin responded that about 80% of the second-hand Home Ownership Scheme housing units are subscribed by people under the age of 40. She believed that young people have a strong desire to buy homes, but the “hot move” is to make a balance. She refers to “reducing the hotness” rather than completely “removing the hotness”. , believe it is the best decision to take care of multiple situations.
Lin Jianfeng urges property market to de-escalate
Lin Jianfeng pointed out that the transaction volume of the property market has not improved so far, coupled with the decline in property prices, he urged the government to fully “remove the heat” 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 the “stress reduction” measures, there were 2,929 residential sales contracts 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 home purchases by foreign talents, there were 474 applications, of which 394 were approved, which proves that the measure is attractive. The government will closely monitor it to ensure the stable and healthy development of the property market.
The original article was published on AM730
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