Hong Kong Housing

Hong Kong real estate chamber pushing for more public space to rebuild lost neighbourhoods

Ivan Ko says the city's many tall buildings have transformed the community and changed the way the people behave. Photo: Jonathan Wong

A non-profit-making body representing the property sector is reaching out to similar organisations to raise awareness for the need to increase public space in a bid to rebuild lost neighbourhoods in the city.

Wednesday, 29 July, 2015, 12:02am

Hong Kong chapter of China Real Estate Chamber of Commerce enters new growth phase

Ivan Ko Kwong-woon, founding chairman of the China Real Estate Chamber of Commerce. Photo: SCMP Pictures

Thirteen years after it was formed, things are looking up at the Hong Kong chapter of the mainland's largest non-profit real estate association, the China Real Estate Chamber of Commerce. Its membership has grown rapidly over the past two years to 288, up from only 50 when it was formed in 2002.

29 Jul 2015 - 12:00am

Hong Kong private flat supply dries up as Lands Department, developers in stalemate

The supply of flats resulting from lease modifications and land exchanges has fallen from a high of 4,070 units in 2011-12 to 100 in 2014-15 in Hong Kong. Photo: Nora Tam

The latest statistics from the Hong Kong Development Bureau shows that the supply of flats resulting from lease modifications and land exchanges has fallen from a high of 4,070 units in 2011-12 to 700 in 2012-13 and 90 in 2013-14, with a slight increase to 100 in 2014-15.

28 Jul 2015 - 9:52pm 2 comments

As Hong Kong seeks to boost housing supply, flexibility is key to urban renewal

Three years have passed since Leung Chun-ying made affordable housing one of his key election platforms and we have yet to see words translated into action. Photo: Alex Ogle

Three years have passed since Leung Chun-ying made affordable housing one of his key election platforms and we have yet to see words translated into action.

21 Jul 2015 - 12:37am 1 comment

Hong Kong cooperative homeowners up in arms over terms set by government for redevelopment

The government is under increasing pressure to boost housing supply. Photo: K. Y. Cheng

The Development Bureau was accused yesterday of imposing unreasonable restrictions on plans to redevelop old housing that was built for civil servants.

A pilot scheme to upgrade estates built under the Civil Servants Cooperative Building Society Scheme was unveiled by the government in May as a way of increasing the supply of flats.

17 Jul 2015 - 2:52am 1 comment

Home sales in Hong Kong and mainland slow amid stock market uncertainty

Sales in the primary market in Hong Kong slumped 58.3 per cent over the weekend from a week earlier to 25 units. Photo: Felix Wong

The housing markets in Hong Kong and on the mainland have seen lower volume due to uncertainty caused by the rout in equity markets, say analysts.

15 Jul 2015 - 10:17am

Nan Fung finds ways to reduce construction costs

Donald Choi says Nan Fung Development wants to systematise construction procedures to increase productivity. Photo: Thomas Yau

Facing soaring construction costs and falling property prices, Nan Fung Development has had to adopt new strategies to maintain its profit margins.

Donald Choi Wun-hing, the company's managing director, said: "Construction costs have surged from HK$1,000 to at least HK$3,000 to HK$4,000 per square foot over the past few years.

8 May 2015 - 10:47am

You don’t need to own a flat to improve your living environment

Donald Choi remains cautious on bidding for land. Photo: Thomas Yau

Donald Choi Wun-hing worked in the well-known architecture firm Foster and Partners for eight years before he joined Nan Fung Development, where he is managing director.

8 May 2015 - 10:47am

Government should not forget Hong Kong’s middle class when increasing supply of flats

A flat at Kornhill in Quarry Bay costs at least HK$7.25 million. That is enough to buy three houses in London. Photo: SCMP

The Hong Kong government is going to build more subsidised public housing to help people with lower incomes. It is time to care about the sandwich class.

It is true that the government's cooling measures did help to curb property price increases since February last year.

4 Mar 2014 - 7:14am 2 comments

Key housing committee warns over rent controls, building on country parks

Wah Fu Estate in Po Fu Lam. The committee's report advised against building homes on country park land. Photo: Nora Tam

The government-appointed committee tasked with long-term planning for housing development in Hong Kong has expressed reservations about introducing rent controls and regulations for “subdivided flats” – and advised against using country park land for building homes.

17 Feb 2014 - 7:09pm 3 comments

Housing minister Anthony Cheung admits Hong Kong homes are too dear

Housing secretary Anthony Cheung notes that average household incomes still cannot catch up with property prices. Photo: Sam Tsang

Hong Kong’s residential prices and rents have gone beyond levels affordable to average residents, the housing minister has admitted.

Local home prices top a list of 360 cities around the world – in the fourth consecutive year a global survey has ranked Hong Kong No 1 in terms of unaffordable housing.

22 Jan 2014 - 4:25pm 6 comments

Offer of free land raises questions

Lee Shau-kee. Photo: Sam Tsang

Acts of philanthropy should be welcomed - even more so when they help resolve pressing problems that affect many in society. So when property tycoon Lee Shau-kee announced plans to donate seven plots of farm land to the government to build affordable housing for young buyers, he deserved public applause. However, given the sensitivity of land supply and the hostility towards the rich and influential among some local people, the mixed reaction was understandable.

17 Jun 2013 - 4:23am 4 comments

Young cage home residents 'isolated from family'

A single mother plays with her daughter in the bedroom of an 80 square-foot sub-divided flat. Photo: Reuters

Amid the public housing crunch, single people earning a low wage are taking up residence in subdivided flats and cage homes, but the cheaper rent comes with a steep emotional price: isolation from loved ones.

17 Jun 2013 - 5:39am 1 comment

'Caged animals' with no other options

Henry Cheung, a 51-year-old cleaner, says his children don't know he is living in a subdivided flat in Sham Shui Po. Photo: Nora Tam

For some young single people who earn very little, subdivided homes are the only option when they can no longer stay at home because of family problems.

17 Jun 2013 - 5:39am

Reserved property scheme may become policy

Paul Chan Mo-po, Secretary for Development. Photo: Sam Tsang

The comment came a day after tenders for the first two sites offered under the "Hong Kong property for Hong Kong people" scheme, at Kai Tak, drew a strong response from developers, with 29 bids.

2 Jun 2013 - 6:03am