HK wants to seize land for housing

Hong Kong’s plans to boost home-ownership could overheat a housing market that is already the world’s least affordable. The island’s embattled chief executive, Carrie Lam, has announced a series of measures aimed at putting more Hong Kongers on the property ladder, including seizing land from landlords to build public housing and relaxing mortgage requirements for first time buyers. The expected surge in demand added about $4bn to the market capitalisations of Hong Kong’s leading developers. Lam, who could be replaced as chief executive next March, wants to seize 700 hectares of land for housing, a huge rise from the 20