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Saturday, August 14, 2010

HK moves to curb property bubble

HONG KONG: Hong Kong’s government said yesterday it will increase land supply to avoid a property bubble, warning that prices of some flats are approaching historic highs.

John Tsang, the city’s financial secretary, said prices in June were 8 per cent up from the end of 2009, despite a series of measures the government introduced in April to cool the overheating market.

By Business Times

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