At the “Soft Landing & the New Normal of the Property Market” session on March 28th, Kam-Chuang LEUNG, CEO of Nan Fung Group Holdings Ltd, indicated that abnormal housing prices will have negative implications on the economy and society.

Mr. LEUNG believed that abnormal housing prices would impede efficient allocation of resources. In some large cities like Hong Kong and New York, exorbitant housing prices have been driving well-educated young people into careers in the financial sector and real estate, thus creating an imbalance in the allocation of human resources. Unchecked, this could have long-term negative impact on the health of economy and society as well as potential sever repercussions.