Lee Shau Kee expects property price to rise 5-10%
HENDERSON LAND (00012.HK) Chairman Lee Shau Kee said due to the limited housing supply in Hong Kong, the Government may consider building some flats sized about 300 sq. ft. in abandoned agricultural land, allowing first time buyers to buy homes for about HK$1 million, so as to reduce social disputes.
Lee noted that as the construction cost continued higher, there will be limited downside potential for the property price.
He estimates that the rise will be 5-10% over the next two year.
For the Hang Seng Index, he estimates that it can rise to 26,000 pts in half year, and can reach 28,000 by the end of the year.
Source: AAStocks Financial News