My Take | It’s a good time for the United States to sell its Hong Kong land

The United States government’s planned sale of a plot of land worth billions in Shouson Hill has set tongues wagging in a city already caught up in the bitter rivalry between China and the US.

The timing of the sale – consisting of a 47,382 square foot plot with six multi-storey mansions – is certainly intriguing. Together, the property cluster is expected to fetch between HK$3.1 billion and HK$5 billion.

Bought soon after the second world war for an undisclosed sum, the sale will for sure make a killing for US taxpayers, or at least the State Department. Well, good for them. Everyone is asking, though, why now?

Well, it looks like a good time to sell. It’s slightly off the top of the market, but still will be highly profitable in a city that has the world’s most unaffordable real estate when compared to other major cities with less insane markets.

Still, you can’t blame people for speculating about a political motive. The Americans have threatened to end Hong Kong’s special customs status over the impending enactment of a national security law. This means mainland Chinese and Hong Kong officials may be targeted for sanctions and other punishments. Why? Don’t ask. Americans think they are judge, jury and executioner of other countries’ internal business.