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Subsidized housing needs to be used well. Two-year lock-up period is difficult to prevent speculation

2021-03-11T23:16:36.398Z


The new phase of the Housing Authority's green homes may be launched for sale in May this year. It is reported that in addition to newly built and re-sold units, it also contains about 800 rental units. It is expected that the pricing of these TPS units will be very convenient


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Written by: Commentary Editing Room

2021-03-12 07:00

Last update date: 2021-03-12 07:00

The new phase of the Housing Authority's green homes may be launched for sale in May this year. It is reported that in addition to newly built and re-sold units, it also contains about 800 rental units.

It is expected that the price of these rental units will be very cheap, and that existing public housing tenants can easily "get on the bus".

However, many citizens also criticized that the units concerned have great potential for appreciation and are likely to become speculative tools, which violates the first use of public housing.

It is said that the rental units that the Housing Authority intends to sell this time are all recovered. Due to the impact of the public housing or interim housing demolition plan and the "elderly family" families will give priority to house selection. The price is about 140,000 to 126 Ten thousand yuan, the discount rate is 82% to 85% of the market value.

The specific discount price will be adjusted according to unit construction cost, development cost, unit location, building age and other factors.

In fact, as early as October last year, the government had pointed out that it would first promote the sale of recycled rental units to meet the home ownership needs of some public housing residents. At the same time, it also stated that the management and maintenance problems caused by mixed ownership can be solved after all the units in the rental housing estates are sold. Therefore, it is estimated that the above arrangement does not mean that the government intends to relaunch the TPS.

The Housing Authority intends to sell the leased recycling units "as is".

(Profile picture)

Rental units are easy to speculate for profit

Although it is easy to "get in the car", many netizens focus on the devilish side of the resale arrangement of rental homes and green homes.

If the resale mechanism of green homes and leased homes this time follows the previous practice, the relevant units will still not be resold for the first two years, and from the third year onwards they can be sold on the open market after the land price is paid, or No premium is required to sell units in the secondary market.

Because the lock-up period is too short, the purchase price and the market price of similar units are too far apart, these units can easily become a tool for public housing owners to speculate for profit.

Although the overall trading of rental units is not as active as in private properties, there have been cases in the past in which the original owners left the market with huge profits or the subsequent owners changed hands in a short period of time to make a profit. It can be seen that they have also contributed to the speculation in the property market.

For example, a unit of Meitian Building in Xingtian Village, Lantian, the first-hand owner bought it for 280,000 yuan in 2001, and changed hands for 3.4 million yuan without premium in 2018; the first-hand owner of the other unit bought it for 250,000 yuan in 2002, with premium After changing hands three times, the fourth-hand owner bought it for 4.1 million yuan in 2018. The difference between the two is more than ten times, far exceeding the inflation and salary increase in the same period.

The Housing Authority announced that the site of the former Tai Hom Village will allocate three residential buildings for green housing, involving 2,112 units.

(Photo/Photo by Ou Jiale)

Even the deputy prime minister can't bear it

The economy is in recession under the epidemic, but the property market is still strong. Although property owners are not eager to sell their properties, it is one of the reasons, but the authorities dare not shake the property market.

In order to maintain short-term and superficial stability, the government would rather continue long-term housing unfairness and allow the property market to maintain unhealthy development for a long time. This will do more harm than good to the society as a whole.

What's more, there is still an extreme shortage of public housing. The government obviously must first ensure that units are transferred to waiting list households and existing households, rather than allowing these units to flow out of the private market.

A few days ago, Vice Premier of the State Council Han Zheng publicly stated that he would deal with the housing problem in Hong Kong, which has reflected the incompetence of the Hong Kong government.

The government must comprehensively reform its housing policy, and all measures must adhere to the principle of housing adequate housing without speculation.

Regarding the rental and green home purchase plans, the government must clearly stop the green home purchase and expand the rental purchase plan. Even if the Housing Authority continues to sell the remaining units in the existing rental housing estates, the lock-up period will be extended and limited to return. Sell ​​the Housing Authority and the second market to restore public housing for self-occupation.

Economy and people's livelihood are the fundamental issues of Hong Kong

If you can't afford the property, you will have to pay a high rent-Hong Kong people are doomed to do so?

Green homes meet the cold wind, the government should not force forward

Green Home Rental Plan Housing Policy 01 Viewpoint

Source: hk1

All news articles on 2021-03-11

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