Government should stop selling lands to the highest bidders
Abolish small house policy of the New Territories
Beef up Lands Resumption Ordinance
Revitalise industrial buildings
Reinstate Rent Control
Capital Gains Tax for real estate transactions
Building more artificial islands
Review Landlord and Tenancy (Consolidation) Ordinance
Hong Kong is too crowded; review immigration policy
End crony capitalism
None of the above; please specify
Yes I meant selling but first they must buy before they sell. I don't think you should add capital gains tax on properties already purchased.
1. Look at the number of residents vs the number of jobs and the incomes these jobs provide
2. Marry the numbers to those residents who should be having families, but are unable to leave their 600 sqft homes which they share with their parents, grandmother and two other siblings
3. Build new housing capacity
4. Provide this capacity to the younger people based on age and financial need
5. Upgrade poor conditioned buildings to maximize livable area and remove illegal structures
6. Reclaim properties from uncooperative landlords of derelict buildings. Give them a free unit in the upgraded buildings - most landlords do not deserve their assets nor do they have the financial savvy to manage such an asset
7. Increase interest rates
8. Tighten foreign ownership laws across the island
9. For people who need to show off, reserve areas for the fat cats (oh wait, this already exists)
10. Hard cap on property prices in regular areas. Transparent transaction prices to shilling can be avoided.
Why has Singapore solved this problem long ago? Because the government actually gives a shit about the future.
A 100% capital gains tax on property should remove speculators from the market quite effectively. Get rid of the special stamp duties at the same time.
Couple this with an aggressive build of new apartments and the Government would be providing homes for residents rather than playthings for speculators.
There should be an independent agency which regulates land supply. It should be chaired by a senior counsel (with construction or surveying background). Most of its members should be independent surveyors with no conflict of interests to property developers. Other members can be one banker, one economist, two academic surveyors, two solicitors, two former civil servants, etc.
The Chief Executive may appoint the LegCo members representing (a) Architectural, Surveying, Planning and Landscape, and (b) Real Estate and Construction to the agency, but these appointments may be controversial.
Ex officio members should include senior civil servants from lands department, planning department, CEED, housings departments, etc...
Staff from Housing Authority and Housing Society have the right to attend, make representations and receive papers as may be necessary.
Last edited by nivek2046; 16-10-2019 at 12:13 PM.