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CE 2021 Policy Address -Housing Issues are a Priority

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  1. #1

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    CE 2021 Policy Address -Housing Issues are a Priority

    https://www.scmp.com/news/hong-kong/...-kongs-housing

    Seems promising?

  2. #2

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    With HKD141.7Billion revenue (~1/4 of the tax take) from new land tax in the last year reported any policy address that does not discuss changes in the tax base and only talks of 'promises' of more supply is not credible. Salaries Tax raises about a 1/3 of the non-recurrent land taxes (~1/12 of the tax take) . So if there is a policy to drop the high land policy then salaries tax would for example need to go to 45% to make up for change. Obviously no government would put all the tax burden on salaries.

    I suspect the development of Shenzhen's southern suburbs will have little impact on HK high land premiums policy.

    Last edited by East_coast; 06-10-2021 at 08:54 AM.

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  4. #4

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    A lot of this will be wealth transfer.

    Sources said since the New Territories North development plan is expected to be one of the main focuses, there will be a large-scale "concept of a comprehensive development plan."

    It will include a new cross-border railway - from Hung Shui Kiu to the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone - to go with the New Territories North development.

    Sources said the plan will also include industry development, which is expected to involve building an innovative technology development facility within the Lok Ma Chau Loop.

    A source quoted Lam as saying the plan is even "bigger and more expensive" than the HK$624 billion Lantau Tomorrow mega-development plan.
    https://www.thestandard.com.hk/secti...elief-measures
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    While the government did not give any details of the cost, the source said it is hard to estimate as it is not a single infrastructure or development project like Lantau Tomorrow or the third runway at the Hong Kong International Airport.

    "This is large-scale development planning, which involves different elements," the source said. "Even if it is the Lantau Tomorrow plan, the land sale revenue on its own is already higher than the reclamation cost, therefore I believe the government can afford it."
    From the article above..

    And available here to download and watch...

    https://www.policyaddress.gov.hk/2021/eng/index.html

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    We have now gone from Belt and Road to a new thing ..

    he construction of seven land boundary control points and connected transport infrastructure from the west to the east has enabled the two cities to go beyond the Deep Bay, the Mirs Bay and the Shenzhen River to connect with each other, thereby forming a spatial framework of “Twin Cities, Three Circles”.
    Lots of stuff in the address about integrating IT and Industry and all that ... most of it is probably going to be some fancy buildings with gigabit cabling and EV charging ports. I think... given what Cyberport currently is.
    Last edited by shri; 06-10-2021 at 11:44 AM.

  7. #7

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    Quote Originally Posted by GentleGeorge:
    Seems promising?
    "Promising?!" Hahahahaha...thanks for the laughs.
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    More construction. This time in the Convention and Exhibition space.

    In the long run, the Government will continue to expand C&E facilities, including redeveloping the sites of the three government towers in Wan Chai North and the Kong Wan Fire Station into C&E facilities, hotel and Grade A offices, as well as expanding the AsiaWorld-Expo, in order to consolidate and enhance Hong Kong’s status as an international C&E hub.

  9. #9

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    I really don't see anything new in this so far other than more construction projects and lofty goals.

    No clue if there is a body or researcher who has gone through the last couple of decades worth of these speeches and seen how much has actually materialized.


  10. #10

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    There was a time when I cared…


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