Pursuits
Billionaire Li Ka-shing Says China Property Prices `Reasonable'
- Li tells investors to not speculate in the property market
- CK Property seeing increasing competition from new entrants
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Billionaire Li Ka-shing said China’s property prices are “reasonable,” as government stimulus has sent prices soaring in the nation’s biggest cities.
“As a developer, I don’t think housing prices are surging too much in mainland China,” said Li, who spoke on Thursday at a accompanying earnings for CK Hutchison Holdings Ltd. and Cheung Kong Property Holdings Ltd. “People might have seen prices jump in one or two projects in Shenzhen, but in other Chinese cities, it probably only rose by less than 10 percent.”