Purchasing a home in Hong Kong may become even more challenging in 2010, as home prices are likely to surge much higher amid the bullish property market conditions.

It would be difficult to dissipate the public bitterness about rising urban housing prices unless, perhaps, the central government launches an overall guideline consisting of some key principles to meet the basic housing needs of salaried classes.

In a development that will improve the pace of the redevelopment of the city's old districts, the government said in the Legislative Council yesterday it will not halt the lowering of the threshold for the compulsory sale of old buildings for redevelopment.

LONDON — China overtook the United States as the world's biggest property investment market last year and will probably keep the lead in 2010 on economic growth and a lower reliance on debt, Cushman & Wakefield LLP said.

With the economy recovering and interest rates at the lowest levels for decades, both government figures and information from property agencies showed the real estate market is very active indeed.

SHANGHAI — UBS AG and JPMorgan Chase & Co turned positive on Chinese property stocks, saying the plunge in share prices this year has made them cheap and concern over tighter credit has been overstated.