Li Ka-shing Backs Hong Kong Property Curbs Amid Price Surge

Li Ka-shing, Asia’s richest man, backed recent measures by the Hong Kong government to curb an “unhealthy” surge in property prices that’s turned the city into the world’s most expensive housing market.

“If prices goes up every day, and a lot of people can’t afford to buy, this would be unhealthy,” Li said after his flagship developer Cheung Kong Holdings Ltd. reported lower property sales yesterday. “The Hong Kong government has said it wants a stable market.”