Hong Kong to Ease Property Curbs If Prices Slump, Tsang Says
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Hong Kong will ease some of its property-cooling measures if home prices extend their decline amid Europe’s worsening credit crisis and a global economic slowdown, the city’s financial secretary said.
Housing prices are “slowly coming down,” and that “will continue for a bit and hopefully we will be able to achieve a soft landing,” John Tsang, Hong Kong’s top financial official, said in an interview in Johannesburg Dec. 6. “When the environment trends downwards, we will surely take countercyclical measures to deal with that.”