Potential homebuyers line up at a sales office in Tsim Sha Tsui, for CK Asset’s 98 units at El Futuro in Sha Tin. The frenzy in the property market stands in sharp contrast to Hong Kong’s ongoing recession and high unemployment. Photo: Xiaomei Chen Potential homebuyers line up at a sales office in Tsim Sha Tsui, for CK Asset’s 98 units at El Futuro in Sha Tin. The frenzy in the property market stands in sharp contrast to Hong Kong’s ongoing recession and high unemployment. Photo: Xiaomei Chen
Potential homebuyers line up at a sales office in Tsim Sha Tsui, for CK Asset’s 98 units at El Futuro in Sha Tin. The frenzy in the property market stands in sharp contrast to Hong Kong’s ongoing recession and high unemployment. Photo: Xiaomei Chen
Lee Shu Kam
Opinion

Opinion

Lee Shu Kam

Property market frenzy and a deep recession reveal the reality of two unequal Hong Kongs

  • Stock market and real estate excitement contrasts with Hong Kong’s prolonged recession amid the Covid-19 pandemic and rising unemployment
  • The government’s decision to abandon a planned vacancy tax on unoccupied flats risks further polarising a city that is already rife with inequality

Potential homebuyers line up at a sales office in Tsim Sha Tsui, for CK Asset’s 98 units at El Futuro in Sha Tin. The frenzy in the property market stands in sharp contrast to Hong Kong’s ongoing recession and high unemployment. Photo: Xiaomei Chen Potential homebuyers line up at a sales office in Tsim Sha Tsui, for CK Asset’s 98 units at El Futuro in Sha Tin. The frenzy in the property market stands in sharp contrast to Hong Kong’s ongoing recession and high unemployment. Photo: Xiaomei Chen
Potential homebuyers line up at a sales office in Tsim Sha Tsui, for CK Asset’s 98 units at El Futuro in Sha Tin. The frenzy in the property market stands in sharp contrast to Hong Kong’s ongoing recession and high unemployment. Photo: Xiaomei Chen
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