Hong Kong’s supply of residential land is shrinking to a 10-year low, as the local government runs out of usable plots for building homes, in a situation that may set the stage for property prices to rise further and fuel public grief in one of the world’s least affordable urban centres.The city’s government will release two sites capable of accommodating 200 flats for sale in the fiscal second quarter starting on July 1, according to Hong Kong’s Secretary for Development Michael Wong, similar…
Source : South China Morning Post
Read more…Hong Kong’s housing land supply shrinks to 10-year low, setting the stage for home prices to spiral in one of the world’s costliest cities
