Deputy National Development Council Minister Cheng Cheng-Mount says that a potential influx of Hong Kongers will not impact Taiwan’s real estate market.
Cheng was speaking Thursday, after China passed a bill governing Hong Kong that critics say will undermine freedom and democracy in the territory. The bill's passage has Taiwan expecting a wave of Hong Kongers coming in search of a new life.
At the Cabinet, Cheng responded to worries about the effect this could have on the real estate market in Taiwan. He said that in the short-term, the number of new arrivals from Hong Kong can be expected to rise. However, he said that Hong Kongers don’t account for a large proportion of property owners in Taiwan, and that the market will remain focused on domestic demand.