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Shanghai house prices to parallel HK in 15 years

(chinadaily.com.cn)
Updated: 2009-08-26 17:13

Housing prices in Shanghai may reach the same level as in Hong Kong in 15 years, according to a senior Hong Kong developer, chinanews.com reported Wednesday.

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Current housing prices in Shanghai are about half or one third of those in Hong Kong, Ronnie Chan Chi-chung, chairman of Hang Lung Properties, said at a forum yesterday. He expects housing prices in the two cities to reach the same level in 15 years.

Chan said he would actively invest in Shanghai's property market based on this prospect.