Hong Kong – Property curbs work their magic: Tsang

Property curbs work their magic: Tsang

Karen Chiu
Tuesday, May 28, 2013

Financial Secretary John Tsang Chun-wah said government measures have been effective in reducing both home prices and transactions.

In a paper submitted to a Legislative Council panel yesterday, Tsang said flat prices dipped by 0.7 percent last month from March while the number of transactions plunged to 3,427 in April from a monthly average of 5,424 recorded during the first quarter of this year.

It was also much lower than the monthly average of 6,778 homes changing hand last year

The government imposed its latest curbs on February 23. Within a month flat prices had slipped 0.1 percent, the paper said.

This reverses “the exuberant situation in the first two months of 2013 when flat prices on average rose by….

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