Strength in unity
An early Christmas present has arrived at the doorsteps of global investors. Central banks including the US Federal Reserve, European Central Bank, Bank of Japan and People's Bank of China have put in measures to ease liquidity for the markets. While the joint effort will not solve the complicated problems in Europe and elsewhere overnight, the markets reacted with enthusiasm, with stocks, oil and gold all receiving an immediate boost. Though structural problems will need long-term solutions, the willingness of the governments to act sends a strong, stabilising signal.
Several developments are now imminent. Global financial markets will hopefully be less volatile, while the prospects of economic growth in Hong Kong's main markets, such as the United States and Europe, could be a little more promising. These factors certainly improve sentiment in the local property market.
On the subject of government, in this issue of LuxeHomes, we take a look at the effect of the Hong Kong government's hefty stamp duty on property after one year. We also have a special report on real estate in Mid-Levels, which is one of the most sought-after districts for discerning executives.