Developers 'too powerful', poll finds

Big property developers were once idolised. Now they have a serious image problem.

Two out of three people interviewed in a poll conducted by Chinese University researchers thought developers cared only about making money and nothing about social responsibility.

Conducted by the university's Hong Kong Institute of Asia-Pacific Studies, the survey of 832 people aged over 18 also found that up to 85 per cent of respondents were familiar with the concept of 'property hegemony', which refers to the alleged dominance of developers over local politics and the economy.

Seventy-eight per cent believed such dominance existed in Hong Kong, despite Chief Secretary Henry Tang Ying-yen claiming, in an interview with the South China Morning Post in May, for example, that there was no such thing.

But one in two people said the government could still control the supply of land and housing, thereby restraining the developers' power and influence.

Shum Kwok-cheung, the institute's project officer, said the poll indicated that people were rational and recognised that the government could play a bigger role in shaking up the perceived 'hegemony'.

'Some might think the government favours the developers. So it must be seen by the public that officials are not scared of the developers and that they have the ability and means to get things right,' Shum said.

He said reviving the Home Ownership Scheme, increasing land supply and avoiding the allocation of prime sites to private developers could dilute negative perceptions.

The Real Estate Developers Association, which represents the interests of local property developers, declined to comment on the survey's findings.

But not all is negative.

Researchers also asked respondents if developers had contributed to the city's economic prosperity. Thirty-five per cent agreed with the statement, 30 per cent 'fairly agreed', and another 30 per cent disagreed. Forty-four per cent thought developers had most control over property prices, followed by the government (23 per cent).

Homebuyers are perceived to be the most powerless, with only 18 per cent saying they had the most influence. However, when it comes to determining housing supply, 51 per cent of respondents said the government had the upper hand, instead of the developers and buyers.

Shum said it was up to developers to study why they were perceived in such a negative light despite the huge investment they had made in building Hong Kong society.

25

The number of years that gambling mogul Stanley Ho served as REDA's president, until Keith Kerr took over in April