Hang Lung Property Chairman: Shanghai commercial Real estate prices still have room to rise

Sina Finance December 2 Evening News Hang Lung Real Estate chairman Chan said today, compared with Hong Kong, Shanghai luxury house prices have a lot of room for growth, the city center area prices in particular has the potential to rise.　　He also believes that Hong Kong should not regard Shanghai as a competitor, and that "Hong Kong will be good if Shanghai is good". After attending the Hong Kong Forum organised by the HKTDC today, Chan said that the price of luxury flats in Hong Kong is about HK $40,000 per square foot (about 0.093 square meters), and Shanghai's luxury property is only about HK $10,000, so the relative rise in space is greater than that in Hong Kong, especially in Shanghai.　　He also noted that commercial property prices would rise faster than residential prices. As for the relationship between Hong Kong and Shanghai, Chan that Hong Kong should not regard Shanghai as a competitor and Hong Kong people have no reason to lose their self-confidence, he said, if Shanghai develops well, Hong Kong will also benefit.　　He also criticized that it was a short-sighted practice for Hong Kong taxpayers to subsidize non-local students to study in Hong Kong. He also criticized some members of the Legislative Council for obstructing the Government in implementing measures to "paralyse" the government, which in the past more than 10 years had dip growth in the mainland, but Hong Kong had only achieved half of the growth rate. (Peng from Hong Kong)