View Poll Results: how to solve the housing problems in Hong Kong?

Voters
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  • Government should stop selling lands to the highest bidders

    7 30.43%
  • Abolish small house policy of the New Territories

    9 39.13%
  • Beef up Lands Resumption Ordinance

    10 43.48%
  • Revitalise industrial buildings

    10 43.48%
  • Reinstate Rent Control

    4 17.39%
  • Capital Gains Tax for real estate transactions

    5 21.74%
  • Building more artificial islands

    5 21.74%
  • Reclamations

    3 13.04%
  • Review Landlord and Tenancy (Consolidation) Ordinance

    0 0%
  • Hong Kong is too crowded; review immigration policy

    11 47.83%
  • End crony capitalism

    6 26.09%
  • None of the above; please specify

    2 8.70%
Multiple Choice Poll.
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how to solve the housing problems in Hong Kong?

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  1. #31

    Join Date
    Aug 2008
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    Oh dear. Populist nonsense

    traineeinvestor and shri like this.

  2. #32

    Join Date
    Dec 2018
    Posts
    1,165
    Quote Originally Posted by East_coast
    Oh dear. Populist nonsense
    Rent controls in other markets have always had adverse effects. Plenty of case studies in the US and other markets but populists are good at ignoring facts.
    huja likes this.

  3. #33

    Join Date
    Jan 2014
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    691

    Germany's rent control seems better than US or Canada's..

    see BGB ss 556 to 561..

    http://www.fd.ulisboa.pt/wp-content/...sh-version.pdf

    Last edited by nivek2046; 15-01-2020 at 11:10 PM.
    Coolboy and Hoista like this.

  4. #34

  5. #35

    Join Date
    Apr 2012
    Location
    Hong Kong
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    1,121

    Finally, no more +25% rent, that would be great, HK is already the most expensive real estate market on the planet with one of the lowest relative purchasing power. What HK doesn't lack is greed.


  6. #36

    Join Date
    Jan 2014
    Posts
    691

    How to solve the Housing Crisis in Hong Kong

    (1) Stop selling land to private developers for 5 years.

    All lands for the next 5 years should be built for public housings only (eg, home ownership schemes)

    (2) Significant Increase of profit tax for the big corporation for at least 5 years

    Hong Kong is the king of crony capitalism. Income inequality is among the highest in the world.

    (3) Increase stamp duty for real estate transaction

    For set off the short fall in land premium, there should be significant increase of stamp duty for all real estate transaction, especially for sellers.

    (4)
    Non HK resident cannot buy property for 5 years

    (5) overhaul of
    one-war permit system

    (a) reduce from 150 to 75; (b) wife with young children will be given priority; (c) people with advanced degrees and special skills will be given priority.

    (6) overhaul of public housing application

    Household entirely composed of HK permanent residents will have priority; households with one member of non-permanent resident will have to wait on a separate queue....

    (7) Rent control a la Germany

    Stepped rent, Indexed rent,
    Increase in rent up to the reference rent customary in the locality, Form and justification of the rent increase, Approval of a rent increase, List of representative rents, Expert list of representative rents, Rent database... see BGB ss 556 to 561..

    Last edited by nivek2046; 16-01-2020 at 11:01 AM.

  7. #37

    Join Date
    Jun 2019
    Posts
    2,865

    I don't how politically feasible some of your suggestions are. Like stop selling land to private developers for 5 years, that seems like a non-starter. The real estate sector is too powerful as a vested interest group to tolerate that. Yes, the mainland is pressuring the HK government to do more to alleviate the livelihood issues facing Hkers, but taking such direct measures against powerful developers seem beyond the capability and willpower of the HK government.

    Last edited by Coolboy; 16-01-2020 at 10:57 AM.

  8. #38

    Join Date
    Sep 2019
    Posts
    2,648

    Increase land supply, develop brownfield areas, and introduce collective sale thresholds to permit and incentivise redevelopment (although this last should only be allowed after some mechanism to deter rapacious Developers and have accountable government).


  9. #39

    Join Date
    Dec 2002
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    31,551

    @nivek2046 - don't think the situation has changed where we need a new poll about old problems every couple of months.

    Merged with your old poll.


  10. #40

    Join Date
    Jan 2014
    Posts
    691
    German rent control works for both landlords and tenants

    https://www.ft.com/content/efe1f74c-...8-28303f70fcff

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