OpinionReclamation is Hong Kong’s best answer to the land supply problem in the long run

The debate on land supply in Hong Kong has aroused a lot more interest and discussion than most public consultation and engagement exercises. This is probably because our most pressing issue – a shortage of affordable housing – is directly related to land. 

Current housing prices are obviously far higher than many end users can afford. The market is distorted by low interest rates and other trends which cannot last. It would be foolish to make specific predictions, but there will come a time when things change and valuations become more realistic.

The debate over land supply should look beyond this. Our immediate housing situation is a mess: tiny homes, very high prices and overdeveloped urban environments. If we are forward-thinking, we should be making sure we do better for the future.

Unfortunately, the easiest land options are potentially the worst. It would be simple to find more land for housing by taking small slices off country parks. But as environmentalists point out, it almost certainly wouldn’t stop there. Future governments would go back for more – and country parks as we know them would be finished.