Hang Lung chief says vacancy tax not effective
(01-31 17:07)
Hang Lung Properties (0101) chairman Ronnie Chan Chi-chung said the vacancy tax was not helpful in stabilizing the local housing market.
He said there were no successful examples elsewhere.
Chan blamed the previous government for failing to maintain a stable land supply.
Chan said he considered measures in the latest policy address are the right initiatives. He also urged the public to give more useful suggestions.
But Chan said he has not yet seen any practical measures in the market thus far.
Hang Lung Properties holds 1,400 new unsold flats, with a 15 percent rise in value every year.
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