
Hong Kong has a number of different problems. We face political divisions, a widening wealth gap and the need to provide more flats for our citizens.
Property prices keep rising. One of the main reasons for this situation is that many mainlanders are coming here to purchase property.
Although they mainly buy luxury apartments, there is a ripple affect and so the prices of smaller, less expensive apartments also go up.
The other reason for rising prices is that increased demand outstrips supply.
The government has introduced a number of measures to curb speculation on the property market. Although real estate transactions have decreased, we have yet to see the full effects of these measures.
The administration is also trying to find ways to make more land available for residential projects.