Real estate market
Written by: Cai Weinan
2021-02-05 09:00
Last update date: 2021-02-05 09:00
The Chief Executive, Carrie Lam Cheng Yuet-ngor, took the lead in the Legislative Council's notice today (4th) to enact legislation to establish a sub-divided housing rental mechanism. Some people in the real estate industry believe that the government will legalize sub-divided housing in disguise. Other scholars questioned whether the measures may have loopholes, and believe that under the new mechanism, the landlord or the second landlord can still increase other miscellaneous fees to "increase rent in disguise," "You have Zhang Liangji, I have a wall ladder."
Tang Wenliang, chief executive of Jihui Group, believes that the government's establishment of the above-mentioned new mechanism is undoubtedly legalizing subdivided housing, but it will be subject to rental control.
He believes that when the measures are implemented, rents cannot be soaring, and landlords cannot rush away tenants at will. This is a protection for the grassroots.
Tang Wenliang, chief executive of Jihui Group, believes that after the legalization of subdivided housing in a disguised form, it is not ruled out that more investors will look for old buildings to be converted into substandard housing.
(Photo by Huang Shuhui)
He also pointed out that many old buildings are now vacant and unoccupied. If subdivided houses are legalized in disguise, investors will not rule out looking for old buildings to be subdivided houses, or selling or renting properties to people who specialize in subdivided houses.
He believes that the increase in subdivided housing units is a good thing for the grassroots.
As for Mak Cuicai, associate professor of the Department of Finance and Policy of Hong Kong Baptist University, believes that the government will legislate to formulate a subdivided housing rental mechanism, and there will be major challenges in its implementation. As a result, many subdivided housing tenants have not signed formal contracts with the landlord or second landlord. The rent figures are not transparent, and it is already difficult to determine which units are subdivided houses.
Or by raising other miscellaneous fees, or increasing rent in disguise
In addition, he also pointed out that the introduction of the subdivided housing rental mechanism will increase the transparency of the subdivided housing market in a disguised manner. If the cost of changing the unit is not high, it does not rule out attracting investors to purchase old buildings and convert them into subdivided housing. "If there is money, someone will do it." .
As for whether the price of such properties will be increased, he said that ultimately it still depends on the supply and demand.
Asked about the trend of the rent of subdivided houses, he predicted that even if the rent of subdivided houses is restricted by the new mechanism and the rent cannot be increased, the landlord or second landlord can also increase the rent in disguise by increasing other miscellaneous fees, describing the situation as "you With Zhang Liangji, I have had a wall ladder."
Mai Cuicai, an associate professor in the Department of Finance and Policy Making at Hong Kong Baptist University, believes that the government has legislated and enacted a subdivided housing rental mechanism, and there are challenges in its implementation.
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