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Have land sales stopped?

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  1. #21

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    flawed or not... i have no comments..
    personally i am a free capital market person, which means in the first place the government should never try to control the economy by bailing out failing industries or restricting supply of land... if they have not done it in the first place, it wouldn't have caused all these issues or excessive speculation and asset inflation, and now they are stuck not able to let property prices fall..

    the bailing out by all these countries over the corona is just another way to transfer wealth from the mid/low income to the high income.. and let's see in 3 years how bad it will turn out...


  2. #22

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    Quote Originally Posted by shri:
    Or how about they publish the reserve price and don't waste anyone's time - including their own, if no vendor is interested?
    the only ppl wasting time are us commenting on it right.. whether they publish the price or not the developer are still going to work thru the whole project modelling and etc.etc. then eventually either submit or don't submit the bid. since this does give the property asset desk in newspaper something to write about, i'd say let that continue.

  3. #23

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    Quote Originally Posted by aquaman:
    in this great free market economy, shoudnt the land go to the highest bidder?
    i am all for the free economy part, but for an asset owner (i.e. most other long time residents in hk) would they accept it ? personally i think they should do it but i think it will get the asset owners cold feet that's why i am asking that question.

  4. #24

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    Heard some rumours about Goldin being built on Chinese shadow banking / shaky debt. Anyone know more?


  5. #25

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    Quote Originally Posted by freeier:
    flawed or not... i have no comments..
    personally i am a free capital market person, which means in the first place the government should never try to control the economy by bailing out failing industries or restricting supply of land
    Luckily the government does restrict land sales.



    The issue is not the model but how the model is used.

  6. #26

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    “Although commercial rents are dropping and office vacancy rates are rising, we cannot leave commercial plots to gather dust – that will damage Hong Kong’s competitiveness as an international financial and business centre,” Michael Wong Wai-lun, the city’s Secretary for Development, said about a plot that has been gathering dust for 20 years

    https://www.scmp.com/business/articl...r-boost-market


  7. #27

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    The Government will sell two residential sites by tender in the July-September quarter. They are in Sai Kung and Tai Po. Briefing the media today on the Government's land sale programme for the coming quarter, Secretary for Development Michael Wong said the two sites will provide about 160 flats.

    The Government will continue to increase land supply through a multi-pronged approach to meet the community’s housing, economic and social development needs, he added.



    https://www.news.gov.hk/eng/2020/06/...ml?type=ticker

  8. #28

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    Quote Originally Posted by East_coast:
    “Although commercial rents are dropping and office vacancy rates are rising, we cannot leave commercial plots to gather dust – that will damage Hong Kong’s competitiveness as an international financial and business centre,” Michael Wong Wai-lun, the city’s Secretary for Development, said about a plot that has been gathering dust for 20 years

    https://www.scmp.com/business/articl...r-boost-market
    So instead of having circuses and international events which make the city interesting and entertaining, we're going to have another concrete monstrosity? FFS - they could at least make it a world-class botanic park with small scale restaurants/boutiques if they wanted something more permanent there.

  9. #29

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    Quote Originally Posted by Paxbritannia:
    So instead of having circuses and international events which make the city interesting and entertaining, we're going to have another concrete monstrosity? FFS - they could at least make it a world-class botanic park with small scale restaurants/boutiques if they wanted something more permanent there.
    It was called a ground scraper 20+ years ago during the justification for reclamation citing the urgent need to add valuable retail space in central and not allow such sites to gather cobwebs for 20 years.

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