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Letters | Hong Kong’s removal of property cooling measures will widen wealth gap
- Readers question the rationale behind the removal of stamp duties intended to cool the property market, and point to the benefits of the measure
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How the sudden removal of property cooling measures will benefit Hong Kong residents is surely a question that must be asked.
A flat is first and foremost a home, not an investment vehicle, and as such fulfils the basic human right to shelter.
With waiting times for public housing exceeding five years, providing stimuli to increase the velocity of home sales only further puts out of reach the chance of owning a home for so many in Hong Kong.
Investors will rejoice in the reduced upfront costs of acquiring another fixed asset with a more promising outlook for capital appreciation and yield. Meanwhile the wealth gap will only widen, especially as barriers to foreign buyers are all but removed.
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How do these policy changes benefit those that need and want a home versus an asset, considering how ridiculously high property prices are currently?
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