Bullish market: Cable cars move past residential flats at Lantau island in Hong Kong. An almost 15-year bull run in prices prompted UBS Group AG to name Hong Kong as the city most at risk of a housing bubble. — Reuters
HONG KONG: Hong Kong will add artificial islands to counter a runaway property market that’s made the city the world’s least affordable for housing.
The government will aim to reclaim 1,700 acres off Lantau Island, the city’s chief executive Carrie Lam said on Wednesday in a policy address.
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