Far from suffering a shortage, Hong Kong has an excess of housing – to the tune of 248,000 surplus homes. Photo: Xiaomei Chen
Tom Holland
Opinion

Opinion

Abacus by Tom Holland

Hong Kong’s solution to a housing problem that doesn’t exist: dump HK$1 trillion into the sea off Lantau

  • The government’s plan to create artificial islands off the coast of Lantau will cost HK$624 billion, but it habitually underestimates price tags on new projects by about 50 per cent
  • Still, the entire project is unnecessary – the city is not short of building land, nor is it short of housing. So how did Hong Kong end up in such a mess?

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Far from suffering a shortage, Hong Kong has an excess of housing – to the tune of 248,000 surplus homes. Photo: Xiaomei Chen
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