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In response to public concern regarding rapidly increasing property prices (attributed in part to a large proportion of Mainland buyers), Hong Kong’s Chief Executive has laid out two parcels of land at Kai Tak that will be used to develop properties specifically for HK Permanent Residents. Flats will be built and sold only to locals, with re-sale restrictions imposed accordingly as well. The sites are expected to be put up for auction in Q1 2013.

For more details, click here.

 

 

 

 

 

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