Wei Zhicheng: the land shortage of organic stability of property prices

The Urban Construction Bureau Chief Executive Officer Wei Zhicheng thinks that the shortage of land is the first issue and the supply has the opportunity to stabilize property prices. The urbanization is the biggest challenge in the next 10 years. It is necessary to optimize the redevelopment mechanism of the old districts to speed up the redevelopment.

In the 1970s and 1980s, the government devoted many resources to the development of new towns in the land development, when the public and private construction industries accounted for the Gross Domestic Product (Gross Domestic Product) (Gross Domestic Product (Gross Domestic Product) Hereinafter referred to as the productivity index) of about 6 to 7%, and from 1987 to 1997 that 10 years, the community worried about the return to the future, hardware investment slowed down, the index has dropped to about 4%, followed by the return of the eve of “Rose Garden Project The index rebounded to 5.5%.

Push more than 10 years should be studied as soon as possible

However, after 10 years of reunification, Hong Kong has witnessed a fall of less than 3% in the face of the 1997 financial turmoil, the 2003 SARS and the Blues. Wei Zhicheng mentioned that although refocusing on infrastructure in 2007 and launching a new 10 major building to improve cross-boundary traffic, the land development was only planned in the New Territories. More than 20 years of land development did not result in the lack of land reserves.

In recent years, the Hong Kong’s productivity index has been maintained at 3 to 4%. He pointed out that it would be expected to spend at least $ 200 billion a year on 2015 to 10 years before the target could be pushed back to a high level of 6 to 7% 10 to 20 years, should be funded as soon as possible to carry out research to solve the current difficulties.

In recent years, the Government has relied on the “one iron and one office” to support the housing supply target. In addition, the Urban Construction Bureau (URA) launched an annual redevelopment project involving about 700 to 800 operators. The impact on the overall property market is limited. To alleviate the phenomenon of excitement in the property market, we will have three major conditions, including demand control, increasing supply and improving our economy.

Although the Government has launched a counter-cyclical measure since 1997, the land is scarce and its supply is limited. He said that there is a supply opportunity to improve the property prices. Otherwise, the economy should be improved so that the public can have sufficient strength to bear high property prices. Plus spicy, there is a need to consider other radical methods.

Oilfield District 2 years to find and find good recipe

“Landless” has also made the URA reconstructed in the old districts. There are small-scale sites in the old districts. The land has been exhausted. The redevelopment can only be a single building. The second part is land acquisition involving key investors. , And the potential of the surrounding land into a large-scale development planning, planning results are limited. At the same time, the reconstruction involves resettlement, Wei Zhicheng means, each demolition of a unit, is expected to three families to move out to complete the reconstruction project about 8 to 10 years, the current shortage to undertake the family.

Wei Zhicheng said that in the next 10 to 20 years, Hong Kong will face the challenge of urban aging. The problem of shortage will continue for many years. With the low maintenance awareness of our owners, the aging of the buildings will be very serious and will weaken the competitiveness of Hong Kong. The URA will plan to conduct a two-year study in Yau Ma Tei and Mong Kok for a two-year study to identify ways to optimize the mechanism so that other projects will be expedited in the future.