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Reply #58: asia: Hong Kong to subsidise housing after public anger [View All]

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xchrom

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Wed Oct-12-11 09:20 AM
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58. asia: Hong Kong to subsidise housing after public anger

http://www.bbc.co.uk/news/business-15269270

Hong Kong will resume a programme to subsidise home purchases to address public frustration over sky-high property prices.

The government will make thousands of homes available for lower income families to buy.

The move comes as a boom in the Hong Kong economy has seen property prices reach record levels in recent times.

But the gap between rich and poor has worsened, stoking anger towards the government and property developers.

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