Hong Kong's top brass have been making the headlines in the past couple of days by threatening to introduce new policy measures to shore up the sagging property market.
No doubt the few remaining property bulls out there will seize on this lifeline, having watched property prices and stocks sink like stones in the past few days.
Franklin Lam, a property analyst at UBS Warburg, has long been in the bull camp on the view that Hong Kong was getting its housing policy act together.
The fresh noises from Chief Executive Tung Chee-hwa and Financial Secretary Antony Leung Kam-chung about a new property-boosting package were certainly grist to his mill.
'Rather than deflation deterring people from buying homes, it is the other way round, that is falling home prices, triggered by an erroneous housing policy, have caused deflation in Hong Kong,' Mr Lam said.
Any further move by the government to get out of the business of selling flats and leave it to private developers would be a bullish sign, he said. He is maintaining a 'strong buy' call on the sector.
