OpinionThinking About China

Hong Kong’s Property Problems Reflect Beijing’s Mismanagement

Beijing’s mismanagement of the former British colony has ruined much of what the city meant to China.
Save
Hong Kong’s Property Problems Reflect Beijing’s Mismanagement
A woman walks past a real estate agent in Hong Kong on May 13, 2022. Isaac Lawrence/AFP via Getty Images
Milton Ezrati
Updated:
0:00
Commentary

For years, Hong Kong had the richest property market in the world. Residential and commercial prices were so high that the city authorities imposed taxes and fees designed to discourage buying, reduce demand, and create a more affordable environment.

Milton Ezrati
Milton Ezrati
Author
Milton Ezrati is a contributing editor at The National Interest, an affiliate of the Center for the Study of Human Capital at the University at Buffalo (SUNY), and chief economist for Vested, a New York-based communications firm. Before joining Vested, he served as chief market strategist and economist for Lord, Abbett & Co. He also writes frequently for City Journal and blogs regularly for Forbes. His latest book is "Thirty Tomorrows: The Next Three Decades of Globalization, Demographics, and How We Will Live."