Chen Maobo: Research on Vacant Taxes in One-handed Building Nearly Ended Experts questioned effectiveness Developers communicate before establishing legislation
In response to the property market problem in Hong Kong, the Government is considering whether to introduce a property vacancy tax. The Chief Executive, Mrs Carrie Lam, mentioned in May that the Government is studying the levying of vacant land in primary residences. The Financial Secretary, Mr Chan Man-po, revealed yesterday that the transport industry had reported the economic performance of Hong Kong. And the study of the vacancy tax by the Housing Bureau is drawing to a close, and a decision will be reached as soon as possible before publication. The Secretary for Housing and Housing, Chen Fan, stated on another occasion that the relevant study is still ongoing and there is no supplement at the moment. After the study is completed, it will be announced, but no specific date has been mentioned.
Untitled 9000 large numbers
According to the data from the HAB, as of the end of March this year, there were 9,000 non-sold first-hand units completed, of which 6,000 were completed in the first quarter of this year or the first quarter of this year, and the remaining 3,000 were completed as early as 2011 to 2016. In the past, there were many opinions that the vacancy rate was too low and they questioned the role of levying a vacant tax. Chen Maobo said that the property market has continued to be active and property prices have greatly exceeded the affordability of the people. There are 9,000 vacant units. Compared with the new supply target of 18,000 gangs per year, the number of vacant units is quite large, which also affects the government’s efforts to provide land for effective supply.
Zhan Tailiang, executive director of the Institute of Global Economics and Finance at the Chinese University of South Korea, believes that after the government completes the study, it will implement the introduction of a vacant first-hand house tax. However, the policy goal is not clear, and it is difficult to measure whether the policy has reached the standard in the future. He pointed out that foreign levying of vacant taxes is generally directed at second-hand properties, whereas targeting first-hand properties may not be conducive to cooling down property prices, and implementation is more difficult, including how to define vacant terms and tax rates. Mrs. ZHUANG also believes that if it is necessary to pay first-hand vacant taxes, the tax rate is too low to have no deterrent effect. However, if it is as high as 10% to 20%, it will force developers to erode money and the tax rate will naturally be passed on to the buyer. Will thus rise.
Liang Zhijian pointed out that it was estimated that there were only 3,000 people
Hong Kong Radio quoted Chairman of the Executive Committee of the Real Estate Developers Association as saying that no hoarding units have formed a trend. The government figures may not reflect the actual situation. As many units need to submit or obtain satisfactory papers, it is not enough for the developer to have occupation permits. For vacancy, it is estimated that there are only about 3,000 vacant units.
He pointed out that the Chamber of Commerce had discussed the issue of vacancy and the industry was verifying how many units were still unsold one year after obtaining the satisfactory paper. He believed that the number of units was not large. He also stressed that the government should discuss the advantages and disadvantages with the industry before making legislation.
K Wah International (00173) General Manager of Marketing and Marketing Planning (Hong Kong Real Estate) Wen Weiming also stated that there are no cases where developers have hoarding units. Even if a unit is not yet launched, most of the units are large-scale units that are affordable to the general public. Unit, the current vacancy rate of the second-hand market has fallen to a new low. We cannot see that the implementation of the vacancy tax will help the property market. The government will put resources on the market and believe that the efficiency of the property market will be even greater.
Director of real estate investment Guo Ziwei believes that the government’s intention to levy a vacant tax is only a preliminary stage. Recently, the property market is booming, and the rental market is also the same. The vacancy rate in the market is low. It is difficult for the government to implement the actual measures. It is difficult to speculate on the details of the vacant tax at this stage. And effectiveness.
In addition, Chen Maobo pointed out that in the first four months of this year, monthly residential sales rose by 7% year-on-year, property prices rose by 7%, and it was already 117% higher than the 1997 high. The people’s home buying power index rose to 71% in the first quarter. Significantly higher than the 44% long-term average over the past 20 years. Although the market sentiment is optimistic, changes in basic factors will gradually exert pressure on the property market. In the next five years, the annual completion volume of private buildings is expected to be 20,800, an increase of 50% over the average of the past five years. The tight supply and demand situation of private properties will gradually ease.