Hong Kong's Chan Says Homebuyers Should Think Twice on Purchases

Hong Kong homebuyers need to “think twice” before making decisions about purchasing because the city’s supply-demand situation in housing is changing, Secretary for Development Paul Chan said on Cable TV on Saturday.

“There’s been a fundamental change in supply in Hong Kong’s residential property market,” Chan said at a land-supply forum in the city. “In the past few years, home supply has been stronger than demand, while there have been changes in the economic and interest-rate environments, which I hope people can take into consideration when making decisions.”