When will the "white house two" help the building wind the government wake up?

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Written by: Commentary Editing Room

2020-10-07 17:30

Last update date: 2020-10-07 17:30

A university study revealed that the second market plan for the White Form Home Ownership Scheme, commonly known as "White House II," has been reduced to a tool for housing speculation. The price increase of HOS properties outperforms private housing and is separated from self-occupation.

The government is the initiator of the promotion of speculation and deviates from the goal of helping Hong Kong people live in peace.

The government should not only tighten the resale conditions and redistribute the subsidized and private housing market to liberate property slaves. Since it understands the resale prices and trends of HOS flats, it should also draw up and publish the HOS price index on its own to track the impact of policy changes. .

The Public and Social Policy Research Center of The Open University of Hong Kong released the "Housing Housing Public Price Index" on Tuesday (6th), reflecting the changes in the local secondary market price of HOS housing.

The team tracked the price per square foot of the 50 HOS estates with the highest turnover since 2006, estimated the current market value of the housing estate, and compared it with the market value of the base month in 2013. The calculation process added a series of unit floors, area, etc. Parameter adjustment.

The Open University today announced the research results of the "Housing Housing Public Price Index" and said it will update the index every month to provide an index of property prices outside the private market.

(Photo by Zheng Zifeng)

HOS housing prices outperform private housing

The team found that since the implementation of "White House II" in 2013, the index has increased by 1.16 times, but the Central Plains City Index, which represents the price of private properties, only increased by 51.39%. The "White House II" policy has raised the HOS price index by approximately 18 %.

On the other hand, buyers of "House II" and private property buyers have the same sensitivity to interest rates.

The team emphasized that the index only helps people decide whether to buy a home in the HOS or the private housing market, and helps to assess the impact of various housing policies and economic conditions on the subsidized housing market. It does not intend to criticize the "White House Two" policy.

However, the scholar in charge also confessed that the transaction price of "Baiju No. 2" is closer to that of private housing, and the discount for HOS flats has narrowed.

Even though the home ownership is still mostly for self-use, society only needs a few profit-seeking property owners to push up property prices to control the property market.

In fact, homeownership sellers are fancy that these white-form customers have a strong desire to buy properties. As long as the prices are lower than those of private properties, they can maintain their attractiveness. There is room to increase the prices and leave the market with large profits.

Local research institutes and newspapers recently published an investigation into 77 cases of resale transactions in the Juer Market to "White Juer" buyers. The average transaction price of each transaction was 78% higher than the original price, and the average profit per transaction exceeded 2.42 million yuan.

We have repeatedly criticized the government's policy of leading property purchases and establishing a property ladder, which is the culprit of speculation.

The previous government launched the "White House 2" pilot program in 2013 and 2015, allowing a specified number of white-form buyers to enter the "House 2" market and purchase HOS flats without paying land premiums. The current government has set the plan as a constant in 2018 Measures.

Mei Ying Court, Sha Tin, was one of the first batch of re-sale HOS estates by the Housing Authority in 2014.

(Photo by Ou Jiale)

The government should disclose data to promote research

Under pressure from all parties, the government has gradually extended the lock-up period and transfer terms of HOS flats in 2018 and 2019. For example, owners can only sell them to buyers of "White House II" at the original price in the first two years of purchase.

However, the Housing Authority still allows landlords to sell them to buyers in the secondary market at a free price for the third to five years, let alone buy and sell in the free market ten years later.

While the new "Policy Address" is about to be released, the government should show its determination to curb the property market, restrict the circulation of HOS flats only in the "House 2" market, and restore the function of subsidized housing for self-occupation.

At the same time, although some scholars developed an index to track the second market price of HOS flats, they also admitted that there was a lack of information such as the number of unpaid land units when calculating the market value of the housing estate. Therefore, they could only calculate the relevant figures by themselves, which shows the government. There is a lot of room for improvement in the public dissemination of first-hand data, and consideration should also be given to using the information to strengthen the monitoring of the changes in the "domestic" market.

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