Lo Man-tuen, a pro-Beijing figure and ex-vice chairman of the All-China Federation of Returned Overseas Chinese, argued in a newspaper column Monday that the Hong Kong SAR government should abolish all cooling measures currently dampening the housing market.
Lo pinpointed the inability of the real estate sector to navigate the obstacles presented by high-interest rates, escalating construction costs, diminishing demand, and the government's partial retention of property market restrictions.
He expressed skepticism regarding the authorities' resolve to prop up the property market and noted a hesitance among government officials to directly address public demands.
Lo contends that removing these restrictive 'spicy measures' is crucial for restoring confidence and stimulating investment income in the property market.
