Call for more land supply and regulating property market

近年來香港特區政府大幅削減土地供應,新建成樓宇大減,引起住宅,辦公樓等供不應求,房價瘋狂上漲.
二十大開發商建成樓宇佔新供應樓房面積超過九十百分點,有論者認為地產霸權已十分明顯.
按照傳統經濟理論,限制土地供應必然導致地價極端上漲,而香港房價已超越民眾和商人的負擔能力.
過去五年,香港每年土地供應僅有約二十萬平方公尺,少於1985至1997年間依據中英聯合聲明限定的五十萬平方公尺.
恆隆地產主席陳啟宗直指香港政府限制土地供應是絕對錯誤.
為增加住房供應和促進房地產市場競爭,我們建議:
以地皮面積計,將每年土地供應恢復到五十萬平方公尺,高密度住宅區佔二十五萬平方公尺,限價出售房屋佔五萬平方公尺,商業區佔五萬至十萬平方公尺.
在市區重建方面,重建後樓宇容積率可提高到拆卸前樓宇的2.5倍,有利於樓換樓,舖換舖推行,惟限於自用物業,建商仍然得到不低的利潤.
上述樓換樓,舖換舖措施相信能加快收購程序,降低佔用流動資金,有助中小型建商參與.
將大部份地皮分拆至約二千至一萬平方公尺拍賣,使每年土地供應增至一百多幅.
政府應盡快開發新市鎮,促進增加土地供應.並限定最少10百分點土地面積列為限價出售房.
政府每年土地權出讓所得須控制於本地生產總值的2%至3%,以調節地價至民眾可負擔水平.
凡涉及轉換土地用途的建案,俱徵收統一土地增值稅,稅率為總售價與地價和建築費用連利息差額的60%至70%.
建設乙類公共房屋,供現行公共房屋收入上限1至1.4倍住戶申請,房租約為甲類的1.6至2倍.每年興建甲類(現行)和乙類公共房屋各20000個.

原文發佈於2011年1月31日,11:01pm.

In recent years Hong Kong SAR Government greatly reduced land supply and fewer buildings completed.
The supply of resident flats and offices does not meet the demand and causes uncontrollable increase in property prices.
20 biggest developers invested in more than 90% of newly completed building area and critics claim that there is blatant property tyranny.
According to traditional economic theory, limitation on land supply leads to extreme increase in land prices.
While the property prices in Hong Kong have already become unaffordable by general public and merchants.
In the past 5 years, land supply in Hong Kong was about 200000 square metres, which was lesser than the limit of 500000 square metres, according to Sino-British Joint Declaration.
Chan Kai-chung, chairman of Hang Lung Properties, claimed that the decision of land supply limitation by Hong Kong Government is totally wrong.
In order to increase housing supply and promote competition in property market, we propose that:
Increase total annual land supply to 500000 square metres, which consists of 250000 square metres for high density residential blocks,
50000 square metres for limited price housing projects, 50000 to 100000 square metres for business districts.
Land volume in re-development project can increase to 2.5 times of land volume in buildings before demolition.
This will be conducive for original flat owning residents to exchange new flats from developers while developers can still be highly profitable in construction projects.
It can also reduce the time for acquisition and capital required, thus small to medium construction companys can involve in those projects.
Most of the land lots should be splited into area of 2000 to 10000 square metres and thus more than 100 land lots can be auctioned every year.
The government should develop more new towns and at least 10% of the total area is reserved for building limited price flat.
Government annual land auction income should be controlled to about 2% to 3% of GDP. In addition, unified land value added tax should be levied for projects involving changes in land use.
The tax rate is [total price of flats being sold- (land purchase price+ construction costs+ interest)]*(60% to 70%).
Build B type public housing estate for households at income level of 1 to 1.4 times of income limit of existing public housing estate applications,
while the proposed rent is about 1.6 to 2 times of existing flats.
Construct type A and type B public housing flats, each of 20000 per year.

The original text was distributed on 11:01pm, 31 January 2011.