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OpinionLetters

Letters to the Editor, September 28, 2013

There has been much pressure on the government to water down or eliminate its property cooling measures, from individuals like Abraham Razack, the real estate sector's man in the Legislative Council, Shih Wing-ching, co-founder of Centaline Property Agency, property agents and decorators, and even conveyancing law firms.

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Runners at last year's 10km race. Photo: Sam Tsang

There has been much pressure on the government to water down or eliminate its property cooling measures, from individuals like Abraham Razack, the real estate sector's man in the Legislative Council, Shih Wing-ching, co-founder of Centaline Property Agency, property agents and decorators, and even conveyancing law firms.

No doubt property transactions have plummeted since the measures were announced but aren't these people barking up the wrong tree?

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Where were they when then chief executive Donald Tsang Yam-kuen suspended land sales for years, when prices kept going up and up.

Why weren't they complaining about free market principles then? So, it's free market principles when land sales are suspended and not so when cooling measures are announced.

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Neither Chief Executive Leung Chun-ying nor Secretary for Transport and Housing Anthony Cheung Bing-leung is responsible for the current situation. If these people have a gripe, it should be with Donald Tsang and the Hong Kong property developers.

If land had been supplied on a regular basis, we wouldn't have had a runaway property market (driven by a shortage of supply, ultra-low interest rates and mainlanders flooding into Hong Kong) and the need to impose cooling measures.

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