The great attraction of cash extraction

It's still too early for any hard numbers telling us about the impact of the latest government measures aimed at making Hong Kong property more affordable for local buyers.

But the initial signs are not encouraging. The latest data-point on the Centa-City leading index shows a steep 1.5 per cent price rise in the week following the late October imposition of punitive stamp duties on non-resident buyers.

Perhaps that shouldn't be such a great surprise.

via Business feed http://www.scmp.com/business/article/1082554/great-attraction-cash-extraction