New Chief Executive Leung Chun-ying has pledged to take the subject of property seriously and, as his new book One Heart, One Vision shows, he understands the complexity of the task.
While analysing the issue of increasing land supply, Leung raises the question of whether property prices should remain stable, or fall back to the level of a few years ago. Although prices are now beyond the reach of some families, Leung points out that their fall would hurt homebuyers who purchased in recent years, which is against the principle of preserving the asset value of homeowners.
Leung also shows his mastery of a wide range of housing issues, from the role of government to the dual nature of property buying, as an investment and a social need.
With the uncertainties over Europe's economy and the mainland's slowing growth, Leung should be able to use his understanding of property issues to come up with measures that are balanced and mindful of the present economic climate.