2/6/2017-1

The property market should be the most urgent to reverse the expectations

Property prices continued to be high, but the recent single-board is still hot, the HKMA has also recently shot, respectively, to control the bank loans to developers and tighten the mortgage. The Secretary for Financial Services and the Treasury, Mr Chan Ka-keung, thinks that the risk management to be done has been largely completed and that the financial system in Hong Kong has been fairly sound. Therefore, the most pressing issue for the next Government is how to increase the supply and change of the public expected.

He believes that the HKMA’s recent prudential monitoring measures are good. Although the developers of high-yield mortgages are regarded as Hong Kong version of the “sub-press”, but he believes that after rigorous supervision, the current risk management measures have been largely completed, the Hong Kong financial market has been very stable, so the next question Has been “stable”, but how to solve the problem of property prices and affordability.

It is good to push prudential supervision

He is not the first official to warn of property prices. Earlier, the Financial Secretary, Mr Timothy Ma, had warned that property prices were not rising or falling. The Chief Executive of the Hong Kong Monetary Authority, Mr Eddie Chan, also pointed out that the higher the price of property, the more the public would like to pursue, so as to increase the borrowing and raise the risk.

Mr Chan said that these risk warnings agreed that the property market was indeed worrying. The gap between property prices and the purchasing power of the public was farther and farther. Many young people and even more highly paid professionals were unable to afford property. The hope for home ownership has continued to be hit by the reality of high property prices, which is not only a matter of financial market, but also less conducive to social harmony. ”

Property and income out of line to be resolved

Therefore, he thinks that the Government will continue to increase its supply in the future and should have a clear policy to give the community a clear message that property prices will return to normal levels so as to adjust the expectations of the public so that their purchasing power can catch up with their property