Hong Kong developer Wharf calls for ‘comprehensive review’ of property market curbs

Hong Kong needs a “comprehensive review” of curbs placed on the property market, according to the chairman of Wharf (Holdings), one of the city’s biggest developers. In an exclusive interview with the Post, Stephen Ng said the review is needed because economic conditions have changed since 2009 when the rules were imposed.  Official data and industry forecasts showed that home prices in Hong Kong have declined 15 per cent from a peak in September 2021, while transaction volume is approaching a five-year low with higher interest rates undermining the city’s post-pandemic recovery.