The Hong Kong government pushes 15 residential sites for the next year

The Hong Kong government pushes 15 residential sites for the next year.

The Development Bureau announced a new annual land sales plan yesterday. The Secretary for Development, Mr Wong Wai-lun, said that in the period from 2019 to 2020, there were 15 residential plots for sale, which could be used to build about 8,850 units. The unit figure decreased by 42% from the previous year. Among them, 6 sites were from the New Territories, 5 from Kowloon and 4 from Hong Kong Island. During the period, the proportion of land used on Hong Kong Island increased. In the first quarter (April to June this year), the government will be the first to launch two Kai Tak residential sites.

For commercial and hotel land use, a total of 7 plots of land were provided for the sale of land this year, of which 5 were used for the Kai Tak Development Zone. Huang Weilun mentioned that the commercial area at the top of the high-speed railway station involved 294,000 square meters of floor space, which drove a significant increase in the commercial floor area this year. This commercial land has attracted a lot of attention from the market. The general valuation of the land price is 100 billion yuan.

Huang Weilun: The government still needs to focus on the land

Total railway property, URA projects and private development redevelopment projects are expected to build a total of 15.54 million homes a year. In the case that the proportion of public and private housing has been changed to seven or three ratios, the annual supply target for private buildings has been adjusted to 13,500 gangs. In other words, the estimated annual supply has been met.

However, Huang Weilun said that the current potential supply team does not have a buffer space, reflecting the serious problem of insufficient land, and the government still needs to focus on the land. In addition, he mentioned that the Anderson Road site has reserved about 1,000 people for the first set-up and will be launched in the second half of the year. However, he pointed out that the first placement of the subsidized component should be regarded as a private residential treatment and should be carefully considered so as not to affect the specific figures of private housing supply.