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Hong Kong real estate experts say housing balance needs shifting in favour of private sector
- Real estate consultant says government should increase proportion of private homes in housing supply as economy improves
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Hong Kong real estate experts have called for the private sector to play a bigger role in the provision of flats for residents and talent recruited from overseas, despite an economist’s warning about a further dip in property prices.
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Lau Chun-kong, a surveyor and managing director of real estate company Colliers Hong Kong, said on Monday the government should increase the proportion of private flats in the overall housing supply as the economy improved and residents became wealthier
“When the economy gradually recovers, there will be a higher demand for renting and purchasing private property,” he explained.
“Society will only be stable in the long run when supply has met these demands.”
He was speaking a day after Bernadette Linn Hon-ho, the secretary for development, said the government would have some room to adjust the ratio after the waiting time for public housing dropped over the next few years.
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