Hong Kong officials continue to worry about asset bubbles

Add Hong Kong Financial Secretary John Tsang to the growing list of government officials worrying about asset price bubbles in Hong Kong. From the Sydney Morning Herald:

“Hong Kong’s government is “very concerned” about the risk of an asset bubble developing although a bubble is not apparent yet, Financial Secretary John Tsang told legislators on Monday…

…Residential property prices have jumped 30 per cent this year, and price gains for luxury property have topped 40 per cent, as the city has drawn massive capital inflows – amounting to a record $US73 billion between October last year and November 13 this year – with foreign investors attracted by its low interest rates. Wealthy mainland Chinese have also been snapping up luxury Hong Kong apartments.”

Advertisements


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s