Once again they're targeting a section of the housing market that is not the primary reason for the bubble we find ourselves in. As a result they are penalising a section of the community that need the help in the form of reduced down payments. How will this be a deterrent to a group of people who cross the border with cash in suitcases?!
As anyone knows increased supply drives down prices but the greedy f@cks who own this place aren't interested in the good of the community hence we see half ass measures like this that affect real people and don't solve the issue.
They should be targeting the high end market and attempting to stop these crazy sky high valuations but alas no this is just to make it look as though something is being done. They daren't address the real issue primarily because Hong Kong is owned and run by property moguls who would seriously dislike anyone upsetting the apple cart.
Last edited by Threethirty; 15th Mar 2015 at 10:43.