Near-term local property market revival unlikely

A revival in the local property market in the near-term is unlikely despite the government's move to halt the supply of flats under the Home Ownership Scheme (HOS) until June 2002, director of Lands Department Robert Pope said. "Negative factors for property purchases remain, with the unemployment rate remaining high," Pope told reporters after a luncheon. The Lands Department director denied the moratorium on HOS flat supply came about due to local property developers' lobbying.

Related stock : (NIL)