Welcome to Property Outlook 2013, the inaugural issue of a real estate magazine by South China Morning Post, intended to help you plan ahead. The sector is facing a turning point because the main forces influencing it have changed. While the usual factors that dictate supply and demand still matter, the government has departed from its passive role and has become an active stakeholder. To cool down the market, the government is attempting to curb demand with a Buyer's Stamp Duty, and it is trying to find more land to build homes. The decade-old under-supply situation is unlikely to last much longer. Prices, however, are still firm, and demand remains strong. The magazine is to help you navigate the changing dynamics of Hong Kong property - by providing you with facts, issues and context to make an informed assessment on investment. In addition to comprehensive data on future supply, we have gathered insights from influential stakeholders, ranging from leading developers to government advisers, from the Long Term Housing Strategy Steering Committee and Housing Authority. We also feature advice on how and when to buy property, and have chapters on where to invest, including Hong Kong Island, Kowloon, New Territories, and two of the hottest overseas destinations - Asia-Pacific and London.