2024-05-16 28Hse Editor
According to data, about 13% of the newly completed private housing units built by the Evaluation Department in the past five years have a saleable area of less than 26 square meters. Huang Weilun believes that the new measures will mainly affect these units and feels it is appropriate. Asked whether it will affect the grassroots boarding, the government believes that there are still quite a few options for those with a price of less than 30,000 yuan per square foot in the urban area. Calculated at 280 square feet, assuming more than 20,000 yuan per square foot, the price has actually not reached or just reached 800. Ten thousand yuan, the mortgage rate can reach 80% or even 90%, so I believe it will not significantly reduce the public's choice.
Asked if he would be worried that the land limit would affect developers' interest in land investment and increase the risk of bidding, Huang Weilun believes that the impact will be small. After the "fair game rules" are specified, it is actually clearer for real estate developers.
The Chairman of the Executive Committee of the Hong Kong Real Estate Developers Association, Leung Chi-kin, believes that the government's setting of targets for the smallest unit area is beneficial to Hong Kong's society as a whole. He admitted that for a unit of more than 200 square feet, after deducting the area of the kitchen and bathroom, almost the entrance to the bed was not ideal. In the past, some developers have introduced small units with a smaller total property price in order to meet the needs of passengers on the bus. It is believed that the measures will affect a small number of passengers on the bus in the initial stage. However, if the government can increase land supply in the future and sell more residential land to meet market demand, I believe property prices will develop in a healthy and stable manner.
In the long run, increase supply and stabilize the market
Ye Wenqi, head of land and housing research at the Unity Hong Kong Fund, agrees that the government should set a conservative minimum unit size requirement at the beginning, and gradually increase the target after the supply stabilizes, and finally realize the ideal of increasing the per capita living area. But he said that the emergence of "nano-buildings" is due to insufficient housing supply and rising property prices. Developers are building smaller and smaller units in order to accommodate the affordability of the public. The minimum usable area requirements set this time can only treat the symptoms. The long-term solution to the problem is to increase the supply of housing to stabilize the market.
Ye Wenqi also reminded that with the total floor area of the development unchanged, it is necessary to further observe whether the supply of units will decrease, and the ultimate impact will depend on the developer's opening rules.
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