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United States The Stock Exchange of Hong Kong Limited
Hong Kong's housing glut set to keep prices down despite tax cut
HONG Kong’s home sales have roared back to life since the government scrapped extra property taxes last month. A supply glut means a rebound in prices is likely to take much longer.
Despite the tax cut, the housing market in Hong Kong is facing challenges due to the oversupply of properties. This oversupply is expected to keep prices down in the near future, making it a buyer's market.
