Hong Kong Throngs of Thousands Defy Bid to Cool Home Market
- Buyers queue to get a shot at newly-released developments
- Newspaper describes property market as ‘becoming crazier’
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Snaking queues of thousands of prospective apartment buyers in Hong Kong signaled authorities have made no progress in cooling a red-hot property market, where prices are at records.
People were lining up on Friday and over the weekend at Victoria Skye, a luxury project at the former airport site of Kai Tak, and at the Ocean Pride development by Cheung Kong Property Holdings Ltd. and MTR Corp.