Zhuang Tailiang, an associate professor of economics at the Chinese University of Hong Kong, also told China news agency that the national security law of Hong Kong will stabilize the society and have a positive effect on property prices. It is expected that property prices will have a good chance to break through the historical high in the coming months.
According to Chen Haichao, after the middle of May, a number of new buildings were launched and sold well, which further promoted the building of the property market. After mid June, the Hong Kong SAR government further lifted the restrictions on the number of people who live in most indoor spaces, thus restoring many economic activities and benefiting the overall economy and the property market.
Chuang Tai Liang added that although the unemployment rate in Hong Kong continues to rise, the core financial sector is still quite stable. In addition, the shortage of housing supply in Hong Kong has resulted in a long-term high property price in Hong Kong. (end)