Redevelopment Barrier

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Ko Chi Kit
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註冊時間: 2020-07-18, 22:30
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Redevelopment Barrier

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From SCMP on 6 Sept 2021 https://www.scmp.com/news/hong-kong/hon ... eady-build
Hong Kong’s Urban Renewal Authority ready to build subsidised flats, but needs land to move faster, chairman says
URA considering new approaches to meet target of building 18,000 flats in five years as Beijing pushes for elimination of subdivided homes
Having enough land will help remove the hurdle of ‘seven-year price’ for compensating owners.


In fact, the Urban Renewal Authority is self-driven. That means although in the beginning, the government injected capital for its operation, it needs to maintain its operation at a profitable level. Against the higher compensation price and the escalating difficulties in collecting land ownership, the Urban Renewal is having difficulty surviving.
However, sadly, Hong Kong’s Urban Renewal Authority needs more land, not money, from the government to do a better job of boosting the city’s housing supply, according to chairman Chow Chung-kong.

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