With the administration showing increasing determination to stabilise property prices, the role of government-related, or controlled, organisations, such as the MTRC and the Urban Renewal Authority (URA), has come under the spotlight. LuxeHomes recently attended a talk by URA chairman Barry Cheung Chun-yuen, who insisted the authority sells at market prices, as determined by seven independent surveying firms. A URA spokesman also told LuxeHomes that 'flats have to be sold at the prevailing market price. If we don't, we would be interfering with, if not distorting, the market. The URA does not have a mandate to provide subsidised housing'.
So, even though the market has sometimes been worried that the government might use the URA to change the dynamics of the property sector, the reality is that at least it is very careful not to interfere in the pricing aspect.
The medium-term property market and mortgage outlook is on everybody's mind, so in this issue of LuxeHomes we have spoken to experts to give you some insights. We are also giving you a rare treat with a special report on some great properties in Paris and Monaco.Topics: Politics Marketing Urban Renewal Authority Pricing Marketing Competition