26/10/2017-8

Investment in public and private partnerships

Solidarity Hong Kong Fund In the land supply sector, it is proposed to co-operate in public and private sectors, including through the provision of infrastructure and allow developers to increase the plot ratio, allocate designated units for public housing and set up land development specialists to work in different departments.

The Foundation’s report states that the Government provides for the use of private land to co-operate with developers in the designated area, subject to the requirement to hand over part of the land to the Government for the development of subsidized housing or to construct a subsidized housing at the Government’s request.

In the process, the Government is responsible for providing road infrastructure and raising the density of land development, but the developer is still required to pay the corresponding land premium.

Simplified approval of revised development value assessment

The Foundation’s senior researcher Zeng Weixian said that the plan was not discussed by the Government and individual developers, but should be carried out in accordance with the open mechanism. As long as transparency is ensured and the benefits of the developers will not be more than the benefits of the community as a whole, they should be considered.

It also proposes to simplify the existing land premium approval system in many ways, including revising the “Before Value" and “After Value", believing that the existing mechanism ignores the cost of demolition and demolition. Cost to reflect the real development costs.

At the same time, it is proposed to set up a land development commission office not only to redeploy staff from the Planning Department, the Lands Department and the Buildings Department, but also the right to overturn other departments’ decisions to reach the agreement on land development approval and to become between the Government and the developers Of the first and only contact person.

As for the eight-year-old property market, the report pointed out that the measures led to a decrease in the rate of private housing turnover, with a turnover rate of only 4.9% over the past four years (2013-2016), 8.3% over the past 20 years , Fell 3.4 percentage points. Compared to the introduction of hot strokes before the different types of units of unit turnover rates have declined, especially in small and medium-sized units of the turnover rate by 7.4 to 7.6 percentage points.